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In its January 1998 issue, Institutional Investor published its Deals of the Year Awards for 1997. Morgan Stanley received mentions in several categories, including:
- Corporate Finance Deal of the Year for Unibanco, a $1.23 billion global share offering for which Morgan Stanley acted as sole U.S. and international book runner and joint global coordinator with Lehman Bros., JP Morgan, and SBC Warbug.
- Technology IPO of the Year for lead-managing Rambus' IPO. Rambus is a Mountainview California-based chip designer whose shares rose 281.45 percent by year-end.
- Real Estate Deal of the Year for its role as advisor to Beacon Properties Corp., which was acquired by Equity Office Properties Trust.
- International Deal of the Year for four different transactions: Morgan Stanley Asia and Peregrine Investments Holdings acted as joint global coordinators in Beijing Enterprises Holdings $27 million share offering; Morgan Stanley advised Great Beijing First Expressways on its $288 million, high-yield bond offering in two tranches; Morgan Stanley issued $600 million senior unsecured notes for GS Superhighway; and Morgan Stanley advised Credite Du Suez on its Ff72.5 billion merger with Lyonnaise Des Eaux.
In addition, Morgan Stanley received M&A Deal of the Year Awards for three different transactions:
- then-Morgan Stanley's self-advising in its $10.5 billion merger with then-Dean Witter, Discover & Co.
- Nationbank's $15.5 billion acquisition of Barnett Banks;
- Norfolk Southern Corp. and CSX Corp.'s $13 billion (including debt) acquisition of Conrail.
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