Completed M&A volumes declined sharply in the 12 months of rapidly rising interest rates and falling company valuations that characterized the awards review period. But remarkable deals still got done and Morgan Stanley, the world’s best bank for advisory, worked on many of the most important ones, even though it finished below its two great rivals in the M&A volume league tables.
It featured on the year’s two most memorable transactions: Elon Musk’s takeover of Twitter and the rescue of Credit Suisse by UBS.
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