By presenting an empirical illustrative cross-border acquisition case in the Russian context, this chapter discusses the role of trust in the acquisition outcome. Despite a growing body of research on factors affecting the success of M&As, significant research gaps still remain related to the concept of trust in the context of acquisitions. Furthermore, research on mergers and acquisitions has been criticised for being fragmented by concentrating mostly on a single acquisition phase, and on the merging parties, while disregarding their external business relationships. Consequently, this chapter aims to answer the call to develop a more holistic understanding of acquisitions and their outcomes by focusing on both pre- and post-merger issues in its case illustration and analysis. With a case study of a Finnish multinational corporation’s acquisition of a Russian company, the importance of trust in the Russian M&A context is discussed not only between the acquirer and acquired company but also in connection to other network relationships and stakeholders.