Which of the following best describes collar agreements?

Group of answer choices

Target's shareholders' main concern addressed by collars is the accretion/dilution effect on the pro forma company EPS

A collar agreement puts a range around the buyer's stock price by setting exchange ratios that change depending on where the buyer's stock price ultimately closes

A fixed exchange ratio promises target shareholders a certain dollar consideration value per target share

Collars are relevant for transactions involving no stock consideration