How do strategic alliances differ from M&As$?$

$2$ points

A$.$ Alliances imvolve taking ower smaller firms, whereas M&A$\text{'}$s irvolve collaboriation between two or more firms to work on a specific short torm project.

B$.$ Two companies forming a strategic alliance converge into a single company, whereas M&A$\text{'}$s of two companies lead to the formation of a third, separate company.

C$.$ Neither A$)$ nor B$)$

D$.$ Both A$)$ and B$]$