An Issuer Bid Occurs When

An issuer bid occurs when:
I.An acquirer owns a majority stake of a target firm and wishes to acquire the remainder.
II.A potential acquirer with no stake in the target firm makes an offer for 50% of the shares.
III.An acquirer who owns a majority stake in the target recommends new management be put in place.
IV.An acquirer wishes to reverse its purchase of the target firm.

A) I only
B) I and II
C) II and III
D) IV only