Crescent Energy to Acquire Permian Rival Vital Energy for $3.1B
V&E, Kirkland and Gibson Dunn were among the advisors on the deal which secures a spot for Crescent among the top ten independent oil and gas producers in the region.
CDT Roundup: Data Centers, AI Hunters and HVAC Companies Fuel PE Activity
The week ending Aug. 23 saw 23 deals for just over $15.2 billion. The deals included three transactions — in media, oil and gas and electrical services — which together accounted for $13.6 billion, amounting to 90 percent of the total. But the week saw a slurry of PE transactions, most of them in the electrical, HVAC or data services sectors and they involved a broad variety of interesting businesses. That and more in this week's CDT Roundup.
Blackstone to Buy Irving Electrical Services Company for $1.6B
The deal for Shermco, advised by Vinson & Elkins and Kirkland & Ellis, is the latest in a slew of electric power, HVAC and water services acquisitions aimed at data center infrastructure support.
Nexstar to Buy TEGNA Local Broadcast Properties for $6.2B
Publicly traded Nexstar Media Group, the nation's largest owner of local television broadcast stations in the U.S., announced Tuesday that it is acquiring TEGNA Inc. and its 65 local stations in 51 markets, including 15 stations in 12 markets in Texas. Kirkland & Ellis, Wiley Rein, Morrison Foerster, Wachtell and Covington & Burling advised on the deal. (Photo by Kristoffer Tripplaar/Sipa USA via AP Images)
CDT Roundup: Last Week’s Deal Flow was More Mirage Than Momentum
The week ending August 16 saw 13 deals for $26 billion. At first blush that meshes nicely with the week prior, which saw 19 deals valued at $16 billion. But don't be deceived. Of those 19 deals in the prior week, 15 of the volume (and $11 million of their value) were for M&A or fundings. Last week saw only seven M&A/Fundings valued in total at just over $3 billion. And the big deal of the week was a capital markets filing: a $20 billion upgrade in a previously announced At-The-Market issue for a crypto miner. That's a questionable week masking as a blockbuster. That and more in this edition of CDT Roundup.
DigitalBridge, Crestview to Take Colorado Broadband Company Private for $1.5B
Simpson Thacher, Wachtell and Davis Polk advised the parties on the transaction which takes private the regional internet, cable and telecommunications provider.
CDT Roundup: Data Centers Continue to Dominate as $16B Week Defies Oil’s Downshift
The week ending Aug. 9 was a strong one by any measure: 19 deals for $16 billion. It follows 17 deals at $19 billion the week prior and compares very favorably with 20 deals for $12 billion this time last year. There were, of course, a healthy number involving data centers or data center infrastructure. Those will be moving the dial for a while. But the word that best describes the week is "wrinkled." Because there were lots of wrinkles. That and more in this edition of CDT Roundup.
Western Midstream to Acquire Aris Water Solutions for $1.5B
Vinson & Elkins and Gibson Dunn advised on the deal, which extends Western Midstream's reach for critical water resources into Eastern New Mexico.
Oxy, ConocoPhillips Announce Profits, Deals and Debt Reduction
Two major energy companies announced earnings Wednesday and both revealed upstream deal activity valued at more than $2 billion. ConocoPhillips announced a $1.3 billion sale of assets in the Anadarko Basin, which was advised by Haynes Boone.
CDT Roundup: AI’s Energy Appetite Continues to Fuel Tech, O&G Deals
The week ending Aug. 2 saw 17 transactions reporting values of $19 billion. You can compare that to last week's 15 deals for $3 billion or the 26 deals for $16 billion we reported this time last year. The news this week is the same news last week: It's all about AI infrastructure. The good news is that even those deals cut a healthy swath across emerging data-related business sectors. That and more in this edition of CDT Roundup.