Many mergers/acquisitions are justified on the basis of synergy. Looking at the studies of post--merger performance, which of the following conclusions would you draw about synergy in mergers?
A There is substantial synergy and acquiring companies pay too little for the synergy.
B There is substantial synergy but acquiring companies pay too much for the synergy.
C There is little, no or reverse synergy and acquiring companies pay too little for the synergy.
D There is little, no or reverse synergy and acquiring companies pay too much for the synergy.