Which One of These Statements Is False

Multiple Choice

Which one of these statements is false?

A) Acquisitions are sometimes unfriendly.
B) Shareholders of the target firm must vote to approve an acquisition by stock.
C) The cost of a stock acquisition can be higher than the cost of a merger if the target firm's management resists.
D) The complete absorption of one firm by another requires a merger.
E) In stock acquisitions the bidding firm deals directly with the target firm's shareholders.