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Valeant CEO Michael Pearson did not hire bankers for the Bausch deal: ‘We draw on our finance team. We draw on the organization.’
Valeant CEO Michael Pearson did not hire bankers for the Bausch deal: ‘We draw on our finance team. We draw on the organization.’
(RYAN REMIORZ/CP)

Who needs bankers? Try a DIY merger

If this keeps up, investment bankers may need to run ads like realtors – those ones that feature some sap of a buyer who cheaps out on a broker and ends up facing lawsuits, termites and nudist neighbours for having gone it alone.

As if a drought of mergers and acquisitions is not hard enough on the financial advisory business, the biggest deal involving a Canadian company in 10 months just hit the headlines and no Canadian investment banking firms were involved.