Oil Co. was a controlling shareholder of Pogo, a company that drilled for oil and gas in the Gulf of Mexico. When some additional leases became available, Oil Co. purchased all of them for itself. Which of the following statements is true?

A. To avoid liability, Oil Co. had to offer the leases to Pogo’s board of directors.

B. To avoid liability, Oil Co. had to offer the leases to Pogo’s other shareholders. 

C. Oil Co. could avoid liability by proving that Pogo could not afford to pay for the additional leases.

D. Both (A) and (B).

E. (A), (B) and (C).