Imagine that you are a CFO of Under Armour, one of leading sports goods/wear manufacture in U.S. Your boss, the CEO just instructed you to find a possible takeover candidate because your company currently has excess liquidity (a.k.a, "too much cash"). You are considering following companies to buy out:

a. from Japan

b. from Italy

c. from US.

Assuming that you will buy only one company from the list and all three choices are almost identical in terms of financial performance such as profitability, leverage, credit rating, operating efficiency, etc. except for their locations. Which one would you buy if your goal is to maximize diversification effect we discussed in class and why?