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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.
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)
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.
Simpson Thacher, Wachtell and Davis Polk advised the parties on the transaction which takes private the regional internet, cable and telecommunications provider.
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.
Vinson & Elkins and Gibson Dunn advised on the deal, which extends Western Midstream's reach for critical water resources into Eastern New Mexico.
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.
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.
Marking their first investment in a $50 billion joint venture campaign announced last year, Energy Capital Partners and KKR said Friday they are investing $4 billion into the development of a data center campus in Bosque County, about 75 miles southwest of Fort Worth. Kirkland & Ellis advised on the JV.
MPLX said Friday it has agreed to pay $2.375 billion in cash to Houston-based Five Point Infrastructure for Northwind Delaware Holdings, a New Mexico sour gas gathering, treatment and processing service operating in the Permian Basin. Latham & Watkins advised Five Points on the transaction.
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