All are true with Mergers and Acquisitions activities except: a. they started at the end of the…

All are true with Mergers and Acquisitions activities except:

a. they started at the end of the 19th century

b. there are 5 main waves

c. usually benefit the bidders in the long run

d. usually benefit the bidders in the short run

e. returns to targets are usually higher in cash offers than share swaps

All the following is true with a Leveraged Buyout except:

a. it is financed mainly with debt

b. the buyer is usually senior management of the target

c. the buyer is usually senior management of the target in partner with a venture capitalist

d. the buyer is usually a venture capital alone

e. the target is currently underperforming