Which of the following statements regarding a share repurchase is NOT

Which of the following statements regarding a share repurchase is NOT true?

A) Share repurchases occur most commonly as open market repurchases.
B) The firm typically buys its shares just like any investor would purchase stocks listed on a stock exchange.
C) A firm often announces its intention to repurchase a certain number of its shares, say over the upcoming year.
D) In most cases, a firm may agree to repurchase shares from a major shareholder at a negotiated price.

ANSWER

D