Which of the following statements is FALSE? (4 marks) Select one: O a. One reason for which the acquirer pays a premium in an acquisition is to obtain efficiency gains, which is achieved through increasing debt capacity. b. Mergers and acquisitions are part of what is often referred to as the market for corporate control. When one firm acquires another, there is typically a buyer (the acquirer or bidder) and a seller (the target firm). O c. The consideration paid to target shareholders can be very complex, including debt instruments, options, and mixes of any of these with cash and/ or stock. Commonly, however, target shareholders receive stock, cash, or a mix of the two. O d. In a hostile takeover, the board of directors (together with upper-level management) fights the takeover attempt. To succeed, the acquirer must garner enough shares to take control of the target and replace the board of directors