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In a de-listing offer, the company has offered a floor price of Rs

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In a de-listing offer, the company has offered a floor price of Rs.275 per share. The CMP is Rs 282. The 6-month weighted average price is Rs 273. The last two weeks weighted average is Rs 287. The price at which the controlling shareholders bought shares from the open market in the past 15-day averages on volume weighted basis at `286. The minority shareholders representing 12.20% of the voting capital petition the court against the offer stating that the offer is below the SEBI price. Analyse the situation from the given alternatives.

(a) The SEBI price has been followed correctly in this case

(b) The minority has no right to invoke any action

(c) The minority have misunderstood the applicability of the pricing formula

(d) The company should have applied only the last acquisition price and nothing else.