Merrill Lynch is the leading investment bank in Israel, with $6.5 billion in mergers and acquisitions and $1.5b. in public offerings, according to business magazine Euromoney. Euromoney reported this week that between May 2006 and April 2007, Merrill handled the largest dollar sum of acquisitions in the country, including HP's $4.5b. acquisition of Mercury, Verifone's $860m. purchase of Lipman and Delek Real Estate's $735m. buy of Roadchef. Merrill also led a number of major public offerings, including state-owned Oil Refineries (Bazan) at $1.54b., the largest transaction in the history of the Tel Aviv Stock Exchange.