Mergers, merger waves, and the factors that drive these mergers have caused paradigm shifts in the corporate landscape of the United States. Several factors drive these merger waves. Identify which of the following has been a driving factor for mergers: Shareholders forced companies to merge to gain stronger control over their management. Companies looked at mergers as a strategic move to gain economies of scale or scope. A tender offer is made when the acquiring company offers to purchase some or all shares from the target company's shareholders. After the hostile raids of the mid-1960s, Congress passed the Williams Act in 1968. Which of the following is true about the Williams Act? The law bars the acquiring firm from increasing the offer price during the 20-day open period. The law allows 20 days to the target company to tender its shares