[Cheeseland Purchase] Cheeseland, Inc

[Cheeseland Purchase] Cheeseland, Inc., manufactures processed cheese products. BigCheese, Inc., seeks to purchase Cheeseland's well-known trademarks and logos, and its factory and equipment. The Board of Directors of both companies vote in favor of the deal. Alba is a 15% shareholder of Cheeseland. Her grandfather started the business many years ago and she does not want the company to sell off its endearing trademark and the factory her grandfather built. She visits Myron, an attorney, and Myron tells her that the Board's vote is legitimate to finalize the deal with BigCheese and the best she can do is take the money. Cyril is a shareholder in BigCheese, and his grandfather was cheated fifty years ago by Alba's grandfather and he doesn't want BigCheese to be responsible for Cheeseland's enormous liabilities. Cyril threatens to take BigCheese to court because he claims shareholder approval is required to purchase Cheeseland.
-Is Myron correct that the vote by Cheeseland's Board of Directors is legitimate to finalize the deal between the two companies?

A) Yes, Cheeseland only needs the approval of its board of directors before it can sell its assets.
B) Yes, Cheeseland only needs the approval of its board of directors for a merger.
C) No, Cheeseland needs the approval of its shareholders for a merger
D) No, Cheeseland needs the approval of both its board of directors and its shareholders before it can sell its assets.
E) No, Cheeseland only needs the approval of its shareholders before it can sell its assets.