Question

In a hostile takeover attempt, the bidder typically makes a tender offer to the target shareholders...

In a hostile takeover attempt, the bidder typically

makes a tender offer to the target shareholders at a price substantially less than the prevailing share price.

makes a tender offer to the target shareholders at the prevailing share price.

makes a tender offer to the target shareholders at a price substantially exceeding the prevailing share price.

seeks to merge with the target company with an exchange of shares.
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