Question: FirstStep LLC has had some key managers and executives leave the firm in the last year and because of a historically low stock price, FirstStep has now become a target for acquisition by other firms. FirstStep can do all of the following to battle potential takeover attempts except which one?
a- Have shareholders engage in a proxy contest in an attempt to change the membership of the board of directors.
b- Provide executives with additional compensation in the event that another company takes control of Alpha.
c- Award special rights to shareholders and executives in the case of a takeover attempt.
d- Require shareholder approval before an acquisition can take place.