Breakingviews TV: Cuts-free M&A

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Cisco hasn’t worked out cost savings for its $2.8 bln purchase of supplier Acacia. Wall Street minnow Piper Jaffray reckons it doesn’t need them to double margins with its $485 mln pounce for Sandler O’Neill. Antony Currie and Tom Buerkle assess the merits of both deals.





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