Acorn Corp. wants to acquire the entire business of Trend Corp. Which of the following methods of business combination will BEST satisfy Acorn's objectives without requiring the approval of the shareholders of either corporation?
a. A merger of Trend into Acorn, whereby Trend shareholder receive cash or Acorn shares.
b. A sale of all the assets of Trend, outside the regular course of business, to Acorn for cash.
c. An acquisition of all the shares of Trend through a compulsory share exchange for Acorn shares.
d. A cash tender offer, whereby Acorn acquires at least 90% of Trends' shares, followed by a short-form merger of Trend into Acorn.
Answer: d