During an on-site company visit, Marsha Ward, CFA, accidentally overheard the chief executive officer of Stargazer, Inc. discussing the company's tender offer to purchase Dynamica Enterprises, a retailer of Stargazer products. According to the CFA Institute Standards of Professional Conduct, Ward most likely cannot use the information because:

A.It was overheard and might be considered unreliable

B.She does not have a reasonable and adequate basis for taking investment action

C.It relates to a tender offer