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Best M&A deal
BP’s merger with TNK
Deal size: $9 billion
Date: February 2003
Arrangers: Merrill Lynch, Morgan Stanley, UFG, Alfa Bank, Goldman SachsRussia could not have asked for a better start to 2003 than the announcement of BP’s $9 billion merger with TNK in February. The eyes of the business world turned to Russia, which only five years earlier had defaulted on its debt. The deal seemed to symbolize the return of the federation’s economy to normality.
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