Which of the Following Is Not a Potential Benefit of a Merger

Multiple Choice

Which of the following is not a potential benefit of a merger?

A) Greater access to financial markets,and thus,be in a better position to raise debt and equity capital.
B) Achieving risk reduction while perhaps maintaining the firm's rate of return.
C) Tax loss carry-forward might be available in a merger if one of the firms has previously sustained a tax loss.
D) Increased standard deviation of earnings per share.