So much attention has been given to energy and energy transition that it would be easy to overlook other business sectors that make up the Texas M&A market. Take the healthcare sector, for instance. Healthcare has become a new favorite among PE investors, according to PitchBook. This week’s Roundup looks at a few of the reasons for that, as well as healthcare stats for Texas. All that, and the usual roster of lawyers involved in last week’s Texas-related transactions.
Eversheds Sutherland Energy M&A Attorneys Headed to Holland & Knight
Three Houston attorneys who advised on a $1.8 billion forestry ESG deal last week are on the move to Holland & Knight.
Winston Counsels Chart Industries on $4.4B Acquisition of Howden
The two major producers of industrial equipment say the merger will allow both the scale and profitability to support their strategic orientation toward decarbonization and other clean alternative energy processes. Claire Poole reports.
CDT Roundup: 25 Deals, 16 Firms, 509 Lawyers, $19B
Is the M&A market becoming a competition between “haves” and “have nots?” Maybe so, according to a recently released survey of nationwide dealmakers conducted by Dykema. Nearly two-thirds of respondents expect the U.S. M&A market to improve in the coming year. But for whom? Where companies with record amounts of cash on hand see opportunity, those who operate as borrowers see obstacles. The Roundup has more on the Dykema report, along with more than 500 names of mostly-Texas lawyers who worked on 25 deals reported last week to the Corporate Deal Tracker. It was, in that way, a record-breaking week.
Sidley, White & Case Counsel on Ensign Natural Resources’ $3B Sale to Marathon Oil
With the acquisition Marathon will double its presence in the Eagle Ford Shale to become one of the top producers in the basin. The company anticipates a post-close dividend raise of 11 percent. Claire Poole reports.
CDT Roundup: 15 Deals, 9 Firms, 116 Lawyers, $7.8B
With blank check IPOs and de-SPAC mergers dwindling in number, the third quarter of 2022 may have spelled the most conclusive evidence yet that the SPAC track has peaked as a quick path to public trading for companies that covet a ticker symbol. Blame it on inflation or on the quality of the targets themselves, but according to Pitchbook SPACs have proved themselves unable to sustain the enthusiastic pricing they experienced just a year ago. The CDT Roundup has those details, as well as the names of the firms and Texas lawyers who reported transactions last week.
CDT Roundup: 20 Deals, 13 Firms, 253 Lawyers, $8.2B
Energy pricing may have rebounded to heights not seen in years, but that doesn’t mean that industry confidence hovers alongside. Haynes Boone’s latest borrowing base redetermination survey suggests that both lenders and borrowers expect current bases to remain flat — or even lower. This week’s CDT Roundup explores possible reasons for the current state of caution, along with the usual review of last week’s deals.
CDT Roundup: 9 Deals, 9 Firms, 139 Lawyers, $3B
Energy deals are holding their own these days, even if other sectors seem to be slacking. The third quarter topped $16 billion for upstream M&A nationwide, making it the best quarter of the year in that category, according to Enverus. Claire Poole provides some perspective for that market, along with deals for the week in all sectors.
Continental Resources Accepts Hamm’s Sweetened Bid to Take Company Private
The deal, valued at $4.3 billion, represents a 6 percent premium over the original offer reported in June. Closing is expected by the end of the fourth quarter and The Lawbook has the names of Texas lawyers involved.
CDT Roundup: 19 Deals, 12 Firms, 114 Lawyers, $2B
This week’s CDT Roundup looks at Rob Little whose twin contributions to this week’s deal lineup point up his steady stream of work with CenterOak Partners. They also lend themselves to the diversity of this week’s lineup: which includes sectors as varied as biopharmaceuticals and upstream O&G to funeral homes and satellites. Claire Poole has Little’s deals along with the usual roll call of lawyers involved in all of last week’s action.