Sandra is a shareholder of Micro Corp. Micro Corp's board announces that it has negotiated a merger with Mega Corp., with Mega Corp. to be the surviving corporation and consideration to be paid in Mega Corp. stock. Sandra opposes the merger and votes against it$,$ but it easily passes a shareholder vote. Can Sandra back out of participating in the merger at this stage?

Yes, shareholders have an absolute right to not participate in a merger.

Yes, she can exercise her appraisal rights.

No$,$ she forfeited her appraisal rights when she voted in the shareholder vote.

No$,$ shareholders have no right to avoid participation in a merger: