CDT Roundup: Sempra Deals Lead Another $22.8B Week
The week ending Sept. 27 had 16 deals reported with an overall value of nearly $22.8 billion led by $17 billion in in just two transactions by one of the largest utility builders in North America.
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Jason compiles the weekly Corporate Deal Tracker Roundup and covers the dealmakers behind the deals.
Jason compiles the weekly Corporate Deal Tracker Roundup and covers the dealmakers behind the deals.
The week ending Sept. 27 had 16 deals reported with an overall value of nearly $22.8 billion led by $17 billion in in just two transactions by one of the largest utility builders in North America.
The week that ended Sept. 20 saw 24 deals with a reported value of $11.3 billion. There were a lot of deals this week related to energy, infrastructure or AI, or some combination of the three. The largest deals of the week included, perhaps unsurprisingly, a few of the largest players: with San Antonio’s electric utility buying four natural gas plants for $1.4 billion and Blackstone buying a huge natural gas plant in southwest Pennsylvania for $1 billion, give or take a few million or so. That and more in this edition of CDT Roundup.
CPS Energy agreed to acquire four natural gas powered electricity generation facilities in Texas for nearly $1.4 billion from PROENERGY. Dykema and Latham & Watkins are advising on the deal.
Paul Weiss Rifkind Wharton & Garrison served as lead counsel for Keurig Dr Pepper in its landmark $18.4 billion acquisition of Dutch coffee giant JDE Peet’s, alongside the in-house lawyers of KDP's team. Paul Weiss continues to be a central legal adviser in high-profile Texas transactions, even as it eyes its first office in the state. A&O Shearman advised JDE Peet's.
Clark Hill recently added Jason McCuiston as a member to its tax and estate planning group in the Collin County office.
Bradley Arant Boult Cummings named Jeffrey M. Harvey partner in its corporate and securities practice group in Dallas.
Global investment firm Brookfield Asset Management acquired a 19.7 percent stake in Duke Energy Florida for $6 billion. The utility plans to use proceeds to further its energy modernization strategy and reduce debt. Kirkland & Ellis and Skadden Arps advised.
Baker Hughes said on Tuesday it has agreed to acquire Chart Industries for $210 a share in cash, or about $13.6 billion, as the Houston energy technology company furthers its expansion in liquified natural gas and data centers. Also Tuesday, Irving-based Flowserve Corp. said it terminated its offer to acquire Chart because the Baker Hughes offer is a “superior proposal.”
Bryce Kaufman spent nearly 12 years in the Houston offices of Latham, specializing in multilayered financial transactions. He joins Simpson Thacher's growing Houston office to focus on energy and infrastructure to help clients seeking financing solutions.
Skadden has added two oil and gas veterans to its M&A team in Houston. In a news release Monday, the firm said Mingda Zhao and Emery Choi will advise energy and infrastructure clients, as well as private equity funds on mergers and acquisitions, joint ventures, investments and other energy transactions.
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