If a merger creates synergy, then the two firms are worth more together than apart. True or False By offering to buy shares directly from a target's shareholders, the acquiring firm can bypass the target firm's management altogether. True or False In mergers financed by cash, the merger cost is not affected by the size of the merger gain. True or False If investors believe a firm may be acquired, its market value is likely to be higher than its stand-alone value. True or False