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A lot of the action happened around oil and gas pipelines given rising production and possible takeaway restraints around certain parts of the country, including acquisitions and joint ventures.
Canadian oil and gas pipeline giant Enbridge announced a large asset sale on Wednesday. Lawyers from Norton Rose Fulbright counseled Enbridge’s U.S. affiliate on the sale of Midcoast Operating to ArcLight Capital Partners-backed AL Midcoast Holdings for $1.12 billion in cash. Gibson Dunn led the deal for ArcLight.
The first week of May saw asset sales, an initial public offering and joint ventures in the energy industry along with mergers in the coal and banking sectors. There also were joint ventures announced by companies big and small and the formation of a new private equity fund.
There weren’t as many deals this week as last week, but they amounted to a whole lot more and involved a lot more Texas lawyers, with mergers and big asset purchases among the highlights.
Dealmaking picked up for Texas lawyers this past week, with 12 transactions announced worth $5.3 billion, triple the previous week’s activity when there were nine deals worth $1.8 billion.
The power and utilities industry continues to consolidate. And two Texas law firms are benefiting from the billable hours. The Texas Lawbook has all the details and all of the Texas connections to this latest transaction.
The Texas Lawbook Corporate Deal Tracker results for 2017 are in, and the top spot is held by a woman. In a corner of the profession long dominated by white guys from Houston, this is a big deal. Claire Poole has details about the winner. One more thing: she recently moved.
Deal activity involving Texas lawyers continued to slide this past week, with only nine transactions worth $1.8 billion announced versus 11 deals worth $2.5 billion the previous week.
The number of private equity deals was down last year from 2016, but deal values were up by 42 percent. This is what happens when a surfeit of capital starts chasing deals. Using data provided exclusively to The Texas Lawbook by Mergermarket, Claire Poole explains how $1 trillion in capital has affected Texas dealmaking – and why private equity is going to make transactional markets even more competitive.
Stock and trade jitters may have been behind it, but last week's transactional activity was...limp. Eleven deals, eight firms and 32 lawyers firmed up $2.5 billion worth of business. Along with the names and numbers, Claire Poole shares her insights on the deals in ,em>The Texas Lawbook.
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