NEW YORK (TheStreet) -- Despite the appearance this year of a team-up between an activist investor and a strategic acquirer in dealmaking, don't expect a repeat.
The combination of Pershing Square Capital Management with Valeant Pharmaceuticals (VRX) to pursue Allergan (AGN) "may have been a one-time opportunity," said Paul Parker, co-chair of global mergers and acquisitions at Goldman Sachs (GS) , at The Deal Economy event on Thursday at Nasdaq.
Parker, a former global head of M&A at Barclays, joined Goldman Sachs in August. While at Barclays, Parker advised Valeant on the Allergan hostile bid.
Actavis ACT said last month it would acquire Allergan for $219 per share in a $66 billion deal.
Parker, interviewed onstage by Jeffrey Kanige, editor in chief of The Deal, noted there has been debate on the legality of arrangements such as the Pershing Square-Valeant one.
"That remains an open debate," he said.
"The other question is, if you bring an activist to help you buy a company, you end up with an activist in your company," Parker continued. "Not everybody likes to have that on the back end of a transaction."
The keynote conversation also included Parker's views on the cable industry, M&A abroad and inversions.