The Crown Corp.offers to buy the voting stock of the L&N Corp.with the intention of acquiring L&N and changing its management.To avoid being taken over by Crown,L&N asks the Spendle Corp.to outbid Crown.In this situation:
A) L&N is a hostile bidder,Crown is the target,and Spendle is a white knight.
B) L&N is a friendly suitor,Crown is a hostile bidder,and Spendle is the target.
C) L&N is the target,Crown is a hostile bidder,and Spendle is a white knight.
D) L&N is the target,Crown is a friendly suitor,and Spendle is a hostile bidder.
Correct Answer:
Verified
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