$687 Mio Dollar 'fee' for an M+A adviser

We often have reiterated that the business or mergers and acquisitions needs to be more closely supervised. Not only do corporate laws and market regulations a good overhaul but the fiduciaries that control most of the major listed equities also need to review their practices. One can say that the top 20 to 30 investing institutions could at the stroke of a pen revolutionise corporate governance as their holdings constitute in effect a controlling bloc in most company registers. When it is disclosed that Olympus paid nearly a third in 'advisory fees' during the acquisition of a British company one is left in disbelief as this is certainly a highly unusual - and extreme - case of corportate governance gone AWOL. Is it beyond the Japanese regulators to clean up their act and once and for all drag corporate practice in Japan into the 21st century? Or is it necessary for international and national regulator to ringfence the Japanese Market in order to protect non-Japanese investors?
(21/10/2011)