Commercial Bankers: Source of M&A Transaction Leaks
I've only been in the industry for about a year now, but there seems to be a recurring element with most of the transactions I've worked on: deal details leaking through commercial bankers. In about 75% of the deals I've worked on, transaction info such as names of buyers, final purchase price, etc. were leaked at some point during the transaction. In almost all of these cases, my firm is 99% sure that the leaks were coming from the commercial bankers when buyers approached them about the financing. Is this common? Maybe I've just gotten an usually chatty sample size, but it sure seems like CB guys are the ones with the loose lips. Curious what others' experiences have been with transaction info leaking.