QUESTION 21 Studies suggest that mergers O are usually friendly mergers O do not create value for the target firm O are usually defensive in nature O generally, do not create value for the acquiring firm O are always resisted by the management of the target firm QUESTION 22 A Carve Out is a form of divestiture where a minority interest in a subsidiary is sold to new shareholders, so the parent gains equity financing yet retains control. O the firm's existing stockholders are given new stock representing separate ownership in the division/subsidiary that was divested. O assets of a division are sold off piecemeal, rather than as an operating entity O a small group of investors acquires a firm in a transaction financed largely by debt. O a turkey is cut up at Thanksgiving