If the board of directors of a target corporation does not agree to a merger or an acquisition,the acquiring corporation can make a tender offer for the shares directly to the shareholders of the target corporation.

Question

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This is a common strategy used in hostile takeovers, where the board of directors is opposed to the acquisition or merger. The acquiring corporation can bypass the board and make an offer directly to the shareholders, who then have the option to sell their shares and bypass the board's decision.

If the Board of Directors of a Target Corporation Does