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Hogan Lovells said this week that Krisa Benskin has joined the international firm as a corporate and finance partner in Houston after nearly four years with Latham & Watkins. Prior to that, Benskin spent a dozen years at Baker Botts.
Antero Resources and its midstream provider Antero Midstream announced Monday (Dec. 8) their separate but coordinated acquisitions of Marcellus Basin assets from HG Energy II and HG Energy totaling $3.9 billion.
In two more similarly separated and coordinated announcements, Northern Oil and Gas and Infinity Natural Resources said they are acquiring a total of $1.2 billion of Utica Shale with Antero Resources and Antero Midstream on the sell side.
Gibson Dunn, Kirkland, Latham and V&E advised on the various transactions.
There was a little bit of everything in Texas M&A for the week ended Dec. 6, with 16 deals reported and a cumulative value of $9.9 billion.
And we do mean everything.
Industrial device manufacturing. Check. Texas bank consolidation. Check. Deals in the AI power generation ecosystem. Check. Billion-dollar Permian midstream deals. Check. Funding for defense drones. Check. Healthcare software. Check. Waste removal investment. Check. Variable PE swaps in school safety software, pool building, and HR assets. Check. And, of course, a few debt offerings reshuffling pandemic era debt. Also check.
That and more in this edition of CDT Roundup.
The deal includes a potential $250 million post-closing earnout for PurgeRite, which provides cooling and filtration services vital to data centers, as well as medical and research facilities and precision manufacturing plants.
Targa Resources said Monday that it agreed to acquire Stakeholder Midstream for $1.25 billion in cash, expanding the Houston midstream services provider’s footprint in the Permian Basin. Latham & Watkins represented Targa with a national team led by Houston partners Ryan Maierson and James Garrett. Willkie and Clifford Chance advised Stakeholder.
Willkie's Texas-based team was led by Houston partner Sarah McLean. Gerald Shrader has been Targa's general counsel since December 2023.
The abbreviated Thanksgiving week that ended Nov. 29 saw six deals reported to the CDT Roundup with a total reported value of $4.1 billion.
We'd compare it to last week's 20 deals for $5 billion, but there's really no comparison. It's easy to hide value in 14 M&A/Funding transactions. With only two M&A deals reported on the week, it's hard to hide anything.
It was the lowest number of M&A transactions since mid-June 2020. And there's no pandemic to blame it on.
That and more in this edition of CDT Roundup.
The week that ended Nov. 22 saw 20 deals reported with a total reported value of $5.5 billion, heavy on deal volume and private equity transactions, including a PE firm buying a majority stake in Topgolf. The seven days prior saw 16 deals at $16.4 billion, marking ten straight deal-weeks of $11 billion or more. Tailing that streak, a week in the single-digit billions seems like a literal downer.
But this time last year saw fewer deals (15) at a lower reported value ($4.55 billion), and a heavy volume of private transactions tends to depress reported values.
It also proved a special week for SPACs — that and more in this edition of CDT Roundup.
The week that ended Nov. 15 saw 16 deals reported to the Roundup, evenly split between M&A and capital/credit markets, with a total value of $16.4 billion. That's down more than a tad from last week's 21 deals valued at nearly $76 billion. But it continues a remarkable run of nine consecutive weeks with total reported values of $11 billion or more.
That and more in this edition of CDT Roundup.
Baker Botts has announced that Anna Irion is joining its Global Projects department in Houston after more than a dozen years focusing on all things midstream with Jackson Walker.
The week ended Nov. 8 began with one of the largest deals in years, as Irving consumer products giant Kimberly-Clark acquired the manufacturer of Tylenol. Overall, CDT saw 21 deals with a total value of nearly $76 billion for the week ending Nov. 8. That and more in this edition of CDT Roundup.
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