3. Company A announces it will pay all shareholders of Company B $44 per share they own. On that date, the value of Company B shares on the public stock exchanges was $32. This action by Company A is called, a. A tender offer b. Inside takeover C. A proposed investment contracts d. An offering of stock options with a strike price of $35 4. Bob is a registered investment adviser under SEC rules with power to trade funds in his client's account. He makes a small (i.e., 1%) commission on ever trade (buy or sell) he makes for his client. He advises his clients to buy shares in XXX, Inc. "the newest, best secret out there" and buys shares of XXX, Inc. with their permission. He and friends own 40% of XXX, Inc. but he does not tell his clients of his ownership. He and friends sell out XXX shares when it has risen to $20 per share. Clients complain when the value of their holdings sinks to $12 per share. Bob will likely be accused of a. Churning b. Deceptive advertising c. Scalping d. Price fixing