Q&A: Will Marsh, GC, Cactus Inc
For Premium Subscribers Will Marsh is general counsel at Cactus, Inc., a Houston-based company that manufactures and sells pressure-control equipment. On the final day of 2022 he cemented for Cactus
Ovintiv Exits Bakken for Permian in Tandem Deals with EnCap Totaling $5.1B
Gibson Dunn, Kirkland & Ellis and Vinson & Elkins counseled the various parties in the pair of agreements with a total of 70 Texas lawyers in the mix. The deal includes what Ovintiv describes as "a unique undeveloped asset" involving "some of the best rock" in the Northern Midland Basin of the Permian.
Latham Advises Incitec Pivot on $1.68B sale of Louisiana Ammonia Facility
The sale to CF Holdings, coupled with a long-term supply agreement, is part of a plan announced last November to spin off its industrial explosives subsidiary Dyno Nobel Americas. CF has energy transition upgrades planned for the site. Allen Pusey has the deal details, as well as the Latham lawyers involved.
Pro Se Plaintiff Whiffs at Fifth Circuit in Case Against MLB
Former professional baseball player and sports nutrition vendor Neiman Nix lost his appeal of a case he filed in Texas against Major League Baseball — arguing that the league's ban of a growth hormone discriminated against his business selling products that included it. It's a case he'd filed, and lost, elsewhere. And that was the problem, the Fifth Circuit said.
Shearman Advises SAP SE in $12.5B Qualtrics Take-Private Deal
Several Texas-based lawyers were involved in the take-private deal, which comes barely two years after the business software company went public in a January 2021 IPO. An earlier headline has been changed to reflect the overall deal value.
Baytex Energy Expands Eagle Ford Presence with $2.5B Deal; Kirkland, V&E, Latham Advise
Baytex says the transaction nearly doubles both its EBITDA and free cash flow, allowing an immediate step-up in direct shareholder returns, including the introduction of a dividend and increased share buybacks. The Lawbook has the names of the lawyers involved.
Texas M&A in 2022: ‘Halting, Cautious…and Busy’
2023 was a year of contrasts: deals were up, but values were down; interest rates were up, but the energy sector was vibrant; dealmakers were cautious, but their lawyers were busy, busy, busy. The Corporate Deal Tracker has the year-end tally and analyses by our Texas experts from every corner of the market.
Sidley Advises United Airlines in Historic Widebody Aircraft Purchase
A team led from Houston advised the airline in a widebody aircraft inventory overhaul that will include as many as 200 Boeing 787s over the next decade. Along with earlier announced acquisitions, the company says it will be accepting delivery of some 700 new aircraft, averaging delivery of as many as two per week in 2023.
GOP Missive to ESG Practitioners: Real Threat or Political Theater?
Whatever its purpose or intent, a letter from five GOP senators to 51 lawyers involved in ESG transactions at their firms was mystifying to those who would talk about it. Sent five days in advance of the recent mid-term elections, the threatening tone of the letters was in keeping with a series of attempts to curb, through their lawyers, corporate support for environmental mandates, energy transition investments and changes in corporate governance — despite increasingly vocal and influential investor demand.
Kirkland, Eversheds, Paul Hastings, Latham Advise on $1.8B ESG Acquisition of 1.7M acres of Sustainable Forestlands
The deal would make Blue Source Sustainable Forests Company — a joint venture with Oak Hill Advisors — the seventh largest private owner of forestlands in the nation. The Lawbook has the names of the Texas lawyers involved in the ground-breaking ESG deal.