IDD's April 13, 1998 issue profiled the top brokerage firms' M&A divisions, including Morgan Stanley's "always-steady" Mergers, Acquisitions & Restructuring Department. Morgan Stanley was the Top Advisor on All Global Cross-Border Transactions for 1Q98.

Morgan Stanley served as advisor in three of the top ten 1Q98 announced deals with U.S. targets, including Compaq Computer Corp.'s $9.1Bn acquisition of Digital Equipment Corp. (advised Compaq), AirTouch Communications $6.0Bn acquisition of U.S. West Inc.-Domestic Wireless (advised AirTouch), and Simon DeBartolo Group Inc.'s $5.8Bn purchase of Corporate Property Investors (advised CPI).

Morgan Stanley also served as advisor in four of the top ten 1Q98 completed deals with a U.S. Target, including NationsBank Corp.'s $14.8Bn acquisition of Barnett Banks (advised Barnett), KN Energy Inc.'s $3.9Bn acquisition of MidCon Corp. (Occidental Petro) (advised KN Energy), Shell Oil's $3.9Bn acquisition of Texaco (advised Shell), and Fred Meyer Inc.'s $3.1Bn acquisition of Food 4 Less Holdings Inc. (advised Food 4 Less).