Empirical Studies Suggest That Targets of Hostile Takeovers

Empirical studies suggest that targets of hostile takeovers ...

A) are more likely to be continental European companies rather than UK and US companies.
B) have weaker pre-acquisition performance than targets of friendly takeovers and non-acquired firms.
C) have better pre-acquisition performance than targets of friendly takeovers and non-acquired firms.
D) do not differ in terms of their pre-acquisition performance when compared to targets of friendly takeovers and non-acquired firms.