Target Firm's Standalone Value Is Best Defined by Which of the Following

Multiple Choice

target firm's standalone value is best defined by which of the following statements:

A) What a business would be worth as part of another firm
B) What a business would be worth as a going concern following a takeover bid
C) What a business would be worth as a going concern in the absence of a takeover bid
D) What the target is worth after the closing date following a takeover
E) None of the above