The paper is entitled "The Dark Role of Investment Banks in the Market for Corporate Control," and you'll probably be hearing more about it. Summarized in a post on the
Harvard Law School Corporate Governance blog, the paper -- written by a trio of European academics -- presents what the authors say is statistical evidence of collusion between M&A advisers at investment banks and the fund management arms of those same banks. In a
post on Dealscape, The Deal editor in chief Robert Teitelman offers an initial reaction. His take? The analysis may turn out to be flawed, but in the current climate, it's sure to get a lot of play. -
Kenneth Klee
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