I can imagine MS wanting control of a Linux server edition for Azure, and Canonical looks like a good target. Not least as canonical seem to have been preparing for a sale. I suppose the real question is how they will treat desktop Linux. I can imagine they would be interested in it as a development environment for their Azure Linux, but less interested in supporting it as a competitor to Windows.
One step closer to Debian...
Now that IBM bought Red Hat I think that would actually be good for Linux.