Select the statement you consider to be the most correct from choicesavailablebelow. In a takeover, target firm shareholders who received cash as consideration for their (target firm's) shares:

Select one:

a.

Target firm shareholders continue to have a minority claim on the acquiring firm and this is beneficial if the acquiring firm is a growth firm.

b.

Historically, evidence points to there being no difference to target firm shareholders risk or return whether they accepted a cash or a share offer.

c.

Are not exposed to business risk or financial risk of the merged entity after completion of the takeover.

d.

End up with a more risky outcome than if they were paid with acquirer's shares (i.e. acquirer shares were given as compensation for target firm shares).