TXSE Group Gains $20M in New Equity Investments
The nascent Texas Stock Exchange boosted its total capitalization to $270 million with the addition of $20 million from a new group of investors led by Goldman Sachs and Bank of America.
Dallas Fed Survey Reveals Anxiety in Manufacturing, Services and Retail
The latest tranche of Texas Business Outlook Surveys from the Dallas Fed was released and the outlook self-described — at least among the Texas manufacturing, services and retail sectors surveyed — is not one of unbridled optimism. Kevin Henderson, a founding partner of SMB Law, says, "We still see a ton of M&A activity in the SBA space, but when talking to current business owners, things are definitely not as rosy as they have been in the past in terms of excitement on outlook. People are nervous about tariffs and overall economic impact and how it will affect their businesses."
Latham Makes the Chris Heasley Move Official
After more than 11 years at Kirkland, Christopher Heasley has formally taken his diverse energy practice to Houston. The move was first reported by Bloomberg Law in late November.
Lone Star Sells SPX Flow to ITT for $4.8B
Gibson Dunn advised Dallas-based Lone Star on the mostly-cash deal. Paul Hastings counseled Connecticut-headquartered ITT. Lone Star acquired SPX Flow in a 2022 take-private transaction.
Adding Texas Divestitures, DOJ Approves $16.4B Constellation/Calpine Merger
A $16.4 billion merger that would create the nation's largest provider of wholesale electricity cleared its final hurdle Friday with an announcement by the U.S. Department of Justice that Constellation Energy and Houston-based Calpine Energy had agreed to resolve antitrust concerns with the divestment of six power plants based in the Northeast and Texas.
VC Advisor Carmelo Gordian Departs A&O Shearman for Holland & Knight
Veteran venture capital lawyer Carmelo Gordian, a longtime Austin-based specialist in emerging companies, has signed on as a partner with Holland & Knight, leaving A&O Shearman after a nearly eight-year run.
Delaware Judge Clears Citgo Parent Sale, Wrapping Up Venezuela Debt Fight
A federal court in Delaware last week approved an end to the Venezuelan Citgo Petroleum saga, authorizing the sale of the company's parent PDVSA to an affiliate of Elliott Investment Management for $5.9 billion.
Electricity Is the New Oil: Texas Power Deals Top $100 Billion So Far This Year
Texas is at the center of a historic boom in power and utility M&A, fueled by the massive energy demands of data center expansions and the global power race driven by the AI revolution.
It’s no secret that energy, particularly in the form of electricity, has become the foundation of dealmaking in anticipation of the need for hyperscale computing and data storage.
But the demand for power and utility deals, large and small, would be hard to overstate.
In the first three quarters of 2025, Texas lawyers handled more M&A transactions involving power and utility projects than in any full year since 2018.
Not only are there more deals, but they are larger. Far larger. In the first three quarters of 2025, Texas-related deals in the power and utilities sector hit $106.5 billion. By comparison, the record-setting M&A year of 2021 saw eight P&U transactions totaling $3.7 billion. (Photo by Stephanie Tacy/NurPhoto via AP)
KKR Exits Novaria Group for $2.2B
The aerospace manufacturer, founded in 2011, is being sold to Nashville-based Arcline Investment Management. Kirkland & Ellis, Ropes & Gray and Paul Hastings are legal advisors on the deal.
Annual Dykema M&A Survey Cites “Cautious Optimism”; Q3 CDT Stats Validate Both
In Dykema's 21st Annual Mergers & Acquisitions Outlook Survey the operative words are "cautious optimism" with an emphasis on optimism: 74 percent of respondents saying the M&A market will strengthen over the next 12 months. Let's dig into the survey and see what data from the Corporate Deal Tracker says, as well.