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When the attitude of the target firm’s management is unfriendly with regard to the proposed merger, which of the following statements is most accurate? The offer is said to be: A. antagonistic, and the acquirer can resort to a proxy battle to persuade the target firm’s shareholders, or a tender offer to replace members of the target’s board of directors. B. hostile, and the acquirer can resort to a proxy battle to persuade the target firm’s shareholders, or a tender offer to replace members of the target’s board of directors. C. hostile, and the acquirer can resort to a tender offer to the target firm’s shareholders, or a proxy battle to replace members of the target’s board of directors. |