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    Options for the Target Corporation of a Tender Offer

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    When the management of the target corporation of a tender offer opposes the tender offer, it can

    a. petition the board of directors to adopt a resolution prohibiting sale by the shareholders to the entity who made the tender offer.
    b. petition the Securities and Exchange Commission to have the offer voided.
    c. exercise its appraisal rights
    d. purchase the shares of its shareholders as treasury stock, but little more
    e. none of the above

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    Solution Summary

    This solution identifies the correct answer for the conditions surrounding the tender offer and explains why.