All of the following statements are TRUE about the use of defense tactics by the target firm during a hostile takeover EXCEPT:

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Defense tactics do not make the costs of a takeover lower. In fact, they often increase the costs associated with a hostile takeover by making it more difficult for the acquiring firm to successfully take over the target company. The other statements are true - defense tactics can benefit executives of the target firm, are opposed by institutional investors, and vary in their effectiveness.

All of the Following Statements Are TRUE About the Use