Which of the following correctly depicts the difference between a merger and an acquisition of srock?

A. Acquisition of stock results in the total absorption of a firm, but a merger does not

B. In case of a merger, the firm can deal directly with the shareholders of the acquired firm, but not in the caseof acquisition of stock

C. Shareholders of the acquired or target firm vote by their response to a tender offer in the acquisition of stock, but cast a formal vote in a merger situation

D. A formal vote by the acquired firm's shareholders is required for the acquisition of stock but not for a merger

Answer: Option C