pter 21 and 24 Both Viacom and Paramount owned a diverse group of entertainment businesses. QVC was a televised shopping channel. The Paramount board of directors accepted a merger offer from Viacom at a price of $69 per share. QVC and Viacom then entered a bidding war for Paramount. QVC ultimately made the highest offer, at $90 per share. The Paramount board rejected QVC's bid on the grounds that a Viacom merger would be more in keeping with Paramount's business strategy. Was the board in violation of the business judgment rule? 1. The business judgment rule requires directors and officers to Select 2. A corporate manager's duty includes Select 3. When it applies, the business judgment rule protects | Select 4. As applied to takeover defenses, the business judgment rule Select 5. Was the Paramount board entitled to reject QVC's offer even though it was the highest? Select O