Why can$$t we rely on takeovers as efficient contributor to the corporate governance system?

Group of answer choices

Some anti$-$take$-$over defenses benefit only managers $($e$.$g$.$ golden parachute$).$

Takeovers could occur for the wrong reason $($e$.$g$.$ empire building$).$

The acquirer may have to pay too much for a target.

All of the above.

Both b and c$.$