可以详细解释一下四个选项吗

问题如下：

Chris Clayton, an analyst for a private equity fund, noticed that merger arbitrage strategies at several hedge funds experienced large losses in late 2007 to early 2008. These losses were likely due to:

选项：

A.

abandoned merger plans due to a lack of available financing.

B.

target prices falling precipitously due to stock market corrections.

C.

acquirers filing for bankruptcy as the subprime mortgage crisis unfolded.

D.

idiosyncratic risks surrounding the merger arbitrage strategy.

解释：

在次贷危机期间，系统性的融资风险在许多市场领域中表现得尤为明显。从事并购套利的对冲基金在次贷危机的初期就遭遇了损失。通常情况下，一旦并购宣布后，目标公司的股价会上涨，而收购方的股价有时会因为债务增加而下跌。并购套利策略正是利用了当前股价与公布的并购价格之间的差额来获利。然而，当融资渠道枯竭导致并购交易告吹时，对冲基金遭受了巨大损失。