Shifting priorities to include ESG and climate friendly policies has been a long road for companies – and offers new opportunities for shareholders and investors. Baker Botts’ Travis Wofford discusses what’s front-of-mind for boards as they begin to contemplate the next proxy season. And in this week’s Corporate Deal Tracker roundup, 199 Texas lawyers played a role in 22 transactions.
CDT Roundup: 17 Deals, 139 Lawyers, 12 Firms, $13.67B
There’s no shortage of capital for Texas GPs. It’s just a question of deployment when it comes to buyouts or growth equity these days for the state’s private players. And in this week’s Corporate Deal Tracker Roundup, Texas counsel took part in 17 deals that spanned a carveout, a SPAC IPO and a cross-border direct loan.
Chesapeake to Acquire Plano’s Vine Energy
Chesapeake Energy plans to snap up Blackstone-backed Vine as it looks to create the largest producer in the Haynesville Shale. Texas lawyers from Latham & Watkins, Kirkland & Ellis and Weil provided counsel on the $2.2 billion deal.
Brookfield Spinoff to Snap Up Galveston Insurance Provider
In a deal valued at $5.1 billion, an arm of investment giant Brookfield plans to continue to build out its reinsurance platform with the acquisition of a Galveston-based company. Sidley, Skadden, Greer, Herz & Adams and Paul Hastings advised.
Houston’s Golden Nugget Online Gaming to Join DraftKings in All-stock Deal
Another asset of Houston billionaire Tilman Fertitta is making moves. DraftKings plans to acquire Golden Nugget Online Gaming – the i-gaming arm of the casino empire taken public via a de-SPAC merger last year – in an all-stock deal as Latham & Watkins, Sullivan & Cromwell, White & Case and Vinson & Elkins advise.
CDT Roundup: 21 Deals, 9 Firms, 142 Lawyers, $7.7B
Traditional oil and gas looking to make headway in the energy transition space scored a win last month thanks to new guidance from the IRS. Houston-based Latham & Watkins partner Jim Cole broke down the impact of the ruling on retrofits. And in the Roundup, it was a big week for IPOs with ties to Texas counsel as de-SPAC mergers dipped slightly after last week’s flurry.
CDT Roundup: 21 Deals, 11 Firms, 139 Lawyers, $6.3B
There’s no hard and fast rule for expansion in Texas, but one firm has made a less-than-subtle push into the top dealmaking firms in the state. Here’s a look at what White & Case office executive partner Jay Cuclis says will continue to drive the firm’s growth in 2021 – along with details of transactions as part of this week’s Corporate Deal Tracker Roundup.
Goldman, JPMorgan Rule H1 2021 League Tables
Exclusive data from Mergermarket breaking down the leaderboard for financial advisors showed two new top dogs for deal value and count for the first half of 2021. Here’s a look at which firms are commanding the league tables so far this year.
CDT Roundup: 14 Deals, 11 Firms, 124 Lawyers, $4.009B
Mergermarket data provided exclusively to The Texas Lawbook shows that deal flow quarter over quarter continued at a rapid clip in the first half of the year, but the deal values came with a heftier price tag in Q2. And in this week’s Corporate Deal Tracker Roundup, July continues to lag – though nothing new based on comparative data.
Deal Flow in First Half of 2021 Overshadows 2020 – But It Wasn’t Difficult
While public offerings and mergers tied to SPACs have cooled in the past few months, transaction activity tied to Texas companies in the first half of 2021 pretty much reflected the broader themes seen across the country. New H1 data from Mergermarket shows that Texas-based dealmaking is in lockstep with the rest of the planet on the road to recovery. The Lawbook’s Anna Butler describes what seems to be driving the moment.