The average value of M&A deals globally last year reached $389 million, the highest since 2015, and take-privates amounted to $158.3 billion, the highest value since 2007. Claire Poole discusses those and other Mergermarket statistics plus the dealmaking week that was among Texas lawyers.
The year was dominated by creatively crafted oil and gas deals, given the negative climate around the industry, but also populated with bank combinations and sell-offs of much-loved state brands.
Rob Fowler will rejoin forces with Kirkland partner Sean Wheeler, who previously worked with him on deals at Baker Botts.
Globally, 2019 came in as the fourth highest dealmaking year ever, thanks to U.S. buyers, but a slight slowdown in deal value and count over 2018 could portend a different-looking 2020.
The year-end rush to ink deals continued before the holidays began, with transactions down on a volume and value basis over the previous week but up on both metrics over the same time last year.
Despite the malaise in the oilfield services sector, which has put the kibosh on M&A, boutique investment bank PPHB is still managing to eke out deals. Co-founder Joe Hoepfl talked with The Texas Lawbook about the state of the market and his outlook for next year.
Texas business leaders are bullish on dealmaking for next year, with technology front-of-mind on the diligence front, plus a transaction rush by Texas lawyers before year-end. Claire Poole explains.
Analysts say the deal is attractive for WPX compared with other recent transactions in the consolidating oil patch and may lead to asset sales to help with financing.
The deal increases the buyer’s presence in Dallas, which is considered one of the country’s most desirable luxury car markets, with Texas becoming 36% of its sales.
Energy service and equipment deals are sagging, much like the rest of the sector, with strategic companies the most active acquirers and private equity buyers remaining focused on transactions with diversified exposure across the value chain. Claire Poole explores that plus the continued slide in deal activity by Texas lawyers.