Comment on the following statements:

a. "Only synergistic mergers have the potential to create value."

b. "If a merger cannot generate synergistic gains through cost reductions, it will not create value."

c. "Conglomerate mergers can create value through superior growth in earnings per share."

d. "There is strong empirical evidence indicating that acquiring firms create value mostly through their superior ability to uncover target companies that are undervalued by the stock market."