The infrastructure giant, advised in part by Skadden’s Houston office, bets big on the continued strength of shipping at a time of supply shortages.
CDT Roundup: 21 Deals, 12 Firms, 178 Lawyers, $18.7B
That Texas has created an increasingly diverse economy is no secret. But the CDT Roundup this week notes something surprising: that Texas added more tech workers to its workforce in 2022 than any other state. What has that to do with dealmaking? Apparently, lots. Claire Poole takes a look at the rise in Texas-led tech deals that paralleled the rise in tech workers. Or was it vice versa? That, along with a look at the week in deals and the names of the 178 lawyers who worked on them.
CDT Roundup: 15 Deals, 10 Firms, 141 Lawyers, $8.8B
Inflation results in more than high prices for tomatoes and toilet paper. After nearly a decade in which the price of money hovered near zero, persistent inflation has apparently hammered down the appetite for M&A from private equity, dropping global M&A by 48 percent and global private equity deals by 57 percent — 46 percent in the U.S. Claire Poole analyzes reasons for the current drought in this week’s Corporate Deal Tracker Roundup, along with the names of the lawyers who fought the headwinds against last week’s deals.
Energy Transfer buys EnCap’s Lotus for $1.45B
Vinson & Elkins, Sidley Austin and Shearman & Sterling advised on the cash and stock acquisition, which includes about 3,000 miles of pipeline through major areas of the Permian. After closing, Dallas-based Energy Transfer plans a new 30-mile connection with the Cushing hub in Oklahoma. Claire Poole details the deal and the names of the lawyers involved.
CDT Roundup: 21 Deals, 17 Firms, 165 Lawyers, $11.6B
CERAWeek, the prestigious Houston energy confab, wrapped up last week. One of the more significant observations emerged from former Goldman Sachs analyst Arjun Murti, now a partner at Veritan. He thinks, for instance, it’s time for the term “energy transition” to transition from a political Rorschach test to something more universal, understandable and verifiable. Claire Poole reflects on a few of his other observations in this week’s CDT Roundup, along with the usual rollcall of deals and dealmakers who reported for duty during last week.
CDT Roundup: 20 Deals, 11 Firms, 228 Lawyers, $9.7B
The $2.5 billion acquisition of Ranger Oil by Calgary-based Baytex Energy marked the first merger of public upstream companies in almost a year. If there’s a renewed public-public phase of consolidation among small-to-mid-cap producers in the offing, there may be evidence of such in the Ranger-Baytex deal. The CDT Roundup explores the merger, along with the usual weekly listing of the deals reported by Texas lawyers.
CDT Roundup: 13 Deals, 14 Firms, 130 Lawyers, $5.4B
Regrouping is a powerful incentive for many M&A deals. This week’s Roundup looks at a couple at a couple of billion-dollar energy transactions that should have come as no surprise for that reason. Also, a quick look at the recent work of Stephen Noh, a former sports management major who now plies his eye for detail to million dollar deals at Kirkland. And, of course, there’s the usual roster of Texas lawyers who worked on last week’s reported transactions.
Chesapeake Sheds Eagle Ford Properties to Ineos for $1.4B
Haynes and Boone advised the Oklahoma company and Holland & Knight assisted the British chemical multinational, which marks its entrance as operator into the U.S. onshore oil and gas market.
CDT Roundup: 14 Deals, 12 Firms, 158 Lawyers, $5.7B
This week the CDT Roundup gives a tip of the hat to Winston & Strawn’s Mike Blankenship, who has begun the first two months of 2023 on fire in what has become a rare form transaction: the traditional IPO. More on that, as well as the week’s roundup of Texas-related transactions.
CDT Roundup: 16 Deals, 12 Firms, 137 Lawyers, $12.1B
Are IPOs on their way back? If the first few weeks of 2023 are any indication, the answer depends on your point of reference: Maybe. Or sort of. Or hope so. After a lackluster 2022 when markets were pestered by war, inflation and defensiveness, a new study by Fidelity Investments suggests a modest rebound may be on the horizon. The CDT Roundup looks at the stats, as well as the cast of lawyers and firms behind 16 deals reported last week.