"Marlboro owner Altria's big gamble on vaping is not panning out as well as hoped. The cigarette giant announced Thursday it was taking a $4.5 billion writedown on its investment in Juul. Altria (MO) invested $12.8 billion for a 35% stake in Juul in 2018. The deal quickly went south as concerns mounted about the health risks of vaping and US regulators pushed for a crackdown on e-cigarettes. Juul was also criticized for selling pods with flavors like mango, creme and cucumber that became popular with teens." (CNN)

This failure of diversification through acquisition exemplifies:

A) Difficulties acquirers face in integrating the target firm

B) Inadequate pre-acquisition screening of the target firm's risks

C) Overestimating the economic benefits of selling the target's products

D) Overpaying for a publicly-owned firm in order to convince target firm shareholders