Which of the Following Is False Regarding the Merger Process

Which of the following is false regarding the merger process in South Africa?

A) The Companies Act establishes a panel to inquire about mergers or takeovers.
B) Shareholders cannot approve a merger unless 50 percent of all shareholders vote to accept the offer.
C) If a change of corporate control takes place outside the stock exchange,the initiator of the merger must extend the offer to the shareholders and disclose all pertinent information to them within a reasonable amount of time.
D) Minority shareholders have access to South African courts and may employ them when disputes arise.
E) The Companies Act and the rules of the Johannesburg Stock Exchange control mergers.