Free Speech, Due Process and Trial by Jury
There's a change coming in the Houston office of Simpson Thacher & Bartlett. The firm announced this morning that Houston managing partner David Lieberman is stepping down and will be succeeded by a trio of partners: Matthew Einbinder, Breen Haire and Christopher May.
Houston-based McDermott International ended its eight-year dispute with Refinería de Cartagena Friday when an SDTX bankruptcy judge signed signed off on a remarkable $900 million package that includes the surrender of 19.9% of the company’s common equity. For Mike Stenglein of King & Spalding, the unprecedented solution marks the end, not only of a grueling international litigation, but resolves all doubt that his Colombian clients were responsible for billions lost in their refinery's construction.
To no one’s surprise, energy dominated other capital market sectors in Texas-related activity.
The court ruled that Denver-based Catalyst Strategic Advisors is entitled to an advisory completion fee in connection with the sale of a Houston building supply company. The court determined that the "procuring-cause doctrine" was rendered inapplicable by the specific language of Catalyst's contract, even though the sale took place 15 months after the company's sale.
Below is a list of qualified capital markets transactions reported to The Texas Lawbook during 2024. The list is organic, designed to grow as deals are reported. So if you have deals
Below is a list of qualified M&A transactions reported to The Texas Lawbook for 2024. The list is organic, designed to grow as needed. So if you have deals that qualify or
Texas-related M&A data for 2023 compiled from The Texas Lawbook's exclusive Corporate Deal Tracker reveals a strangely successful year — even a record year in some quarters. A record number of Texas-related deals were reported: 1,225 mergers, acquisitions, and joint ventures with an aggregate value of $739.7 billion. That's a 13.2 percent climb in deal volume over 2022 (1,082) and more than double year-over-year values ($367.1 billion).
If M&A markets seemed slow, capital markets appeared dead. According to a study by PwC, a record year in 2021 has been followed by near silence. The CDT Roundup this week looks at the stats behind a precipitous drop in IPOs and some recent, long-overdue attention to SPACs by the SEC. All that and the usual roster of Texas-related transactions reported last week.
Professional sports, once the domain of rich guys who made their money in steel or automobile dealerships, has become its own source of cross-industry partnerships, once-verboten relationships and even M&A. The CDT Roundup looks at how a couple of Texas billionaires and a South Texas bankruptcy are accelerating those changes — along with the lineup of last week's deals.
The veteran energy tax attorney was involved with several billion-dollar deals in the last few months. He cites STB's "preeminent tax practice and collegial culture" as the reasons behind his move.
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