Question: The returns to acquirer shareholders may be explained by:Multiple Choiceacquirer management over - confidence in their valuation of targets.tax loss benefits of a target.reduction in

The returns to acquirer shareholders may be explained by:Multiple Choiceacquirer management over-confidence in their valuation of targets.tax loss benefits of a target.reduction in agency costs due to the method of financing the takeovereconomies of scale in operations which may reduce costs.

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