Lazard said the drop was related to the smaller number of merger transactions that closed in the third quarter, and slower restructuring business.

The once sleepy utility area accounted for nearly 9 percent of all merger transactions this year.

They say that it takes two to three years for investment bankers to build expertise in structuring, handling the legal complexities and negotiating merger transactions.

"Market forces should drive these merger transactions rather than political or regulatory imperatives."

The company went public through a reverse merger transaction in November 2007.

After the reverse merger transaction, the name was changed to China Wind System.

Responsible for reviewing merger transactions, and taking remedial action where necessary, to protect and promote competitive markets in Canada.

To Wall Streeters who might walk away with $400 million in a merger transaction?

"I do not believe that size alone is a basis to challenge a merger transaction," he added.

"I'm calling for a motion to approve the proposed merger transaction."