What Is the Main Lesson Learned from Investor Carl Icahn's

What is the main lesson learned from investor Carl Icahn's bid to purchase Clorox Co.?

A) Boards will only defend against takeover attempts if their companies are performing poorly.
B) The situation demonstrates two possibilities. First, Clorox was underperforming and the market for corporate control disciplined managers to improve performance. The second possibility was that investors sometimes take over companies that are performing well.
C) Boards commonly make mistakes in rejecting takeover bids as shown in the case of Icahn's bid for Clorox Co.
D) Clorox was clearly underperforming and Icahn's bid was a good example of the efficiency of the market for corporate control.