In terms of common M&A strategies, which of the following statements is false?
Select one:
a.
A product roll up is an inorganic strategy
b.
An oil refiner buying an oil field is an example of backward integration
c.
A electronics manufacturer purchasing a property development company is adopting a diversification strategy
d.
A geographic roll-up is a vertical strategy
e.
Smaller competitors merging to more effectively compete with a dominant market leader are adopting a defensive strategy