Once a company acquires 5% of the outstanding shares of a publicly held company, it must:
a. Promise not to try to buy out the company in which it has made an investment (purchased 5% or more of the outstanding shares).
b. File a 13d with the Securities and Exchange Commission, stating whether it intends to eventually make an offer to buy out the company or be a passive investor.
c. Attempt to buy all the remaining shares outstanding within twelve months.
d. Try to gain control by launching a proxy contest.
2. In the movie "Other People's Money" Danny Devito, playing the character "Larry the Liquidator" wants to gain control of New England Cable and Wire. He is attempting to gain control using what strategy?
a. Proxy contest
b. Merger
c. Hostile takeover
d. Friendly takeover