Which of the following statements is most CORRECT? a. If a company that produces military equipment merges with a company that manages a chain of motels, this is an example of a horizontal merger. b. Acquiring firms send a signal that their stock is undervalued if they choose to use stock to pay for the acquisition. c. A defensive merger is one where the firm's managers decide to merge with another firm to avoid or lessen the possibility of being acquired through a hostile takeover. d. Cash payments are used in takeovers but never in mergers. e. Managers often are fired in takeovers, but never in mergers