5. Which of the following statements is FALSE? A) In practice, most acquirers pay a substantial acquisition premium, which is the percentage difference between the acquisition price and the premerger price of the target firm. B) When a bid is announced, the target shareholders can enjoy a gain of 16% on average in their stock price. C) On a takeover announcement, the target share price does not often rise to the offer price because there is uncertainty in the completion of the deal. D) A bidder is very likely to acquire a target company for less than its current market value