Liverpool acted swiftly in the winter market to bring in Virgil van Dijk from Southampton for £75million.
Jurgen Klopp wanted to bring in the Holland international during the summer but the south coast club refused to let the defender leave.
Van Dijk’s eventual arrival at Anfield was widely praised by pundits and former players with Liverpool in need of defensive reinforcements.
However, just a week later the club sold Philippe Coutinho to Barcelona for a British transfer record worth over £140m.
The Brazilian had established himself as Liverpool’s biggest star in recent seasons and was seen as a crucial player to Klopp’s plans for the future.
But Coutinho made it clear he wanted to move to the Nou Camp last summer and Liverpool yielded to his wishes this month.
The club were unable to replace Coutinho in the remaining weeks of the transfer window and defeats to Swansea and West Brom led to suggestions Liverpool had made a mistake by not bringing in another midfielder.
And there were also calls for the Reds to sign a new goalkeeper with Loris Karius and Simon Mignolet coming under intense criticism.
However, Merson graded Liverpool’s transfer business this window as A+ and also praised the club for getting Daniel Sturridge off the wage bill.
“It’s been a brilliant window [for Liverpool],” Merson told Sky Sports.
“They needed a centre-half and they paid good money and got him.
“They also got £146m for Coutinho and got a big earner in Daniel Sturridge off the wage bill.
“It’s been good business in my opinion. Top marks.”