'It Is Unlikely That Undervaluation of Targets Is the Main

'It is unlikely that undervaluation of targets is the main reason for takeover activity.' This statement is:

A) false,since markets have been proven to be inefficient.
B) true,since management of the bidding company may have private information.
C) false,since management of the bidding company may recognise the existence of alternative,better uses for assets of the target.
D) true,since market efficiency implies that such opportunities are rarely found.