If loose lips sink ships, then deal leaks cost corporate clients both time and money. At least that’s what a new study commissioned by New York-based online workspace provider IntraLinks and London’s Cass Business School says.

Conducted by Cass professors Scott Moeller and Omiros Sarikas, the study examines more than 350,000 M&A deals between 1994 and 2007. Of the deals that were subject to leaks, only 49 percent closed, compared with a 72 percent completion rate for deals in which no leaks occurred.

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