Sailor Shipping Ltd is analyzing the possible acquisition of Biscuit Foods Ltd. Neither firm has debt. The forecasts of Sailor Ltd show that the acquisition might increase the combined annual after-tax cash flow by a further $800,000 in perpetuity. The current market value of Biscuit Ltd is $35 million. The current value of Sailor Ltd is $60 million. The appropriate discount rate for the incremental cash flows is 8 percent. Sailor Ltd is trying to decide whether it would offer 40 percent of its stock or $38 million in cash to Biscuit Ltd. Briefly describe FOUR actions the management of a target firm might take in order to fight off a hostile acquisition bid from an unwanted suitor. In each case, explain the impact on the target firm's existing shareholders