Which one of these statements is true?A) One disadvantage of a merger is that it requires the approval of both the target and bidder firm's shareholders.B) Normally, the target firm's management is very cooperative during the merger process.C) A consolidation is a complete absorption of a target firm by a bidder firm, which retains its name and identity.D) An entirely new firm is created when any type of merger or consolidation occurs.E) Mergers are legally complex and expensive.

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