Which of the Following Statements About the Takeover Constraint Is

Which of the following statements about the takeover constraint is false?

A) Limits the extent to which managers can pursue strategies.
B) Limits the actions that put the managers own interests above those of the stockholders.
C) Limits situations where there is no agreement about acceptable principles.
D) Managers could lose their independence and probably their jobs.
E) Limits the worst excesses of the agency problem.