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A CEO serves as Chairman of the Board. In that role, the CEO was pivotal in persuading the Board of Directors to approve a multibillion

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A CEO serves as Chairman of the Board. In that role, the CEO was pivotal in persuading the Board of Directors to approve a multibillion dollar acquisition at a significant premium that greatly increased his stature with no meaningful impact on the company's overall competitiveness. Did an agency problem exist? Explain

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