D) neither

Which of the following is true? (1) A staggered board can deter hostile takeovers because a hostile bidder can only replace a fraction (typically less than 50%) of board members in any given year even if the bidder acquires a majority of the voting shares. (il) A tender offer is an effective hostile takeover strategy for a target firm with a poison pill in place. Choose the best answer from the list below, O A. [i) only O B. (i) only