Mergers and acquisitions advice and financing are key parts of investment banks' business. Mergers and acquisitions are, however, relatively controversial, with a large pool of literature providing evidence that they are very risky transactions for the acquiring firms. Much of the evidence suggests that more often than not, acquiring firms will lose money in these transactions. Given these points it would appear that advisers have a very important role to play in counselling their clients on mergers and acquisitions strategies. Obtain a copy of the paper Allen, L, Jagtiani, J, Peristiani, S & Saunders, A 2004, 'The role of bank advisors in mergers and acquisitions', Journal of Money, Credit and Lending, vol. 36, iss. 2, which examines these issues. Provide a critical review of this paper and comment on the implications of its findings for investment banks.