Which of the following statements is most CORRECT?

	a.	Financial theory, which shows the benefits of debt as a tax shield, has motivated almost all historical mergers undertaken to be done so with with 100% debt financing
	b.	The basic rationale for any financial merger is diversification
	c.	In most mergers, the benefits of synergy and the premium the acquirer pays over the market price are summed and then divided equally between the shareholders of the acquiring and target firms
	d.	The primary rationale for most operating mergers is synergy
	e.	The acquiring firm's required rate of return in most horizontal mergers will not be affected, because the 2 firms will have similar betas