The Government Regulates Bank Mergers, Sometimes Denying the Proposed Merger

The government regulates bank mergers, sometimes denying the proposed merger. Often the reason given for the denial is to protect small investors. What are small investors being protected from?

A) with a larger bank the bank is likely to take greater risk and may fail.
B) in order to pay for the merger, the bank may seek higher returns putting the depositors' funds at greater risk.
C) mergers can increase the monopoly power of banks and the bank may seek to exploit this power by raising prices and earning unwarranted profits.
D) bank runs hurt larger banks more than smaller banks.