4. Which of the statement is false?

a. Even if an existing business adds value to an MNC, it may be worthwhile to assess whether the business would generate more value to the MNC if it was restructured.

b. Since the cash flows generated by a foreign target will eventually be converted to the parent's currency, there is no need to consider the foreign exchange rate in the capital budgeting process.

c. From an acquirer's perspective, the ideal conditions would be a weak foreign currency at the time of acquisition and a strengthening of the foreign currency over time as funds are remitted back to the parent.

d. A foreign target's expected future cash flows generally vary among different MNCs valuing the target.

e. An international acquisition is different from the establishment of a new subsidiary in that the MNC can immediately expand its international business since the target is already in place.