Veteran Oil & Gas Dealmakers Hired by Bracewell
A little less than two years after joining Winston, Kevin Brophy and Ming Lei are on the move again; this time to Bracewell as partners in the oil and gas transactions group in Houston.
SpaceX Exercises Cursor Option With $60B Stock Swap
SpaceX announced on June 16 in a social media post that it exercised an option to acquire Cursor in an all-stock transaction valued at $60 billion, with Gibson Dunn and Kirkland advising.
SpaceX plans to fold Cursor into its X67 Inc. unit. The deal was first announced in April, when SpaceX said it would “pay $10 billion for our work together” if it didn’t exercise the option.
Olin, Huntsman Unite to Forge $12B Chemicals Giant
Olin Corp. and Huntsman Corp. announced June 16 that they have merged in an all-stock deal that creates a chemicals company with more than $12 billion in annual sales.
Kirkland, Cravath and Sidley advised on the transaction.
Pizza Hut Served Up to PE for $1.5B
Yum! Brands has agreed to sell Pizza Hut to Connecticut private equity firm LongRange Capital for about $1.5 billion, with an earn-out option of $75 million by 2030, while Pizza Hut in mainland China will be acquired by Yum China Holdings for about $1.2 billion.
Sidley, Weil and Mayer Brown are serving as outside legal advisors.
CDT Roundup: Megadeal Leads Eclectic Mix of M&A, IPOs and Odd Pairings
For the week ended June 13, the CDT Roundup reported on ten deals with a disclosed value of $11 billion.
A year ago at this time, the Roundup reported on nine deals with a combined disclosed value of $478 million.
By far the largest deal of the week was a massive venture involving PE, a sovereign fund, a power provider and a major chipmaker. That and more in this edition of CDT Roundup.
The Full Gibson Dunn Team Behind $75B SpaceX IPO Revealed
Gibson, Dunn & Crutcher confirmed in a news release on Thursday afternoon that the firm is the lead counsel to SpaceX on its initial public offering set to price Friday and revealed the lawyers involved across the entire transaction. (Photo credit: Sharon Ferranti/Texas Lawbook)
McGuireWoods Snags Houston Energy Dealmaker
David Aaronson is joining McGuireWoods as a partner in Houston as the firm continues to expand its energy M&A and finance practices.
CDT Roundup: Late Arrivals Steal the Show
For the week ended June 6, there were 14 deals reported to CDT Roundup with a combined disclosed value of about $9.5 billion.
That said, you might take note of the overabundance of material covered in our Late Arrivals and Other Matters section, as well as other deals in this week's edition.
Paul Weiss Adds Trent Bridges to M&A Team in Houston
Trent Bridges is joining Paul Weiss in Houston as a partner in the white-shoe firm’s M&A group. Bridges advises companies in energy and infrastructure projects with a focus on midstream oil and gas and has been practicing in Houston since September 2021.
CDT Roundup: AI, Energy and Giant Deal Shape Diverse Week
Three AI-related deals. A soon-to-be-Japanese-owned digital infrastructure provider sopped up a major alternative energy investor. A Miami-based PE firm bought 10 data centers. You get the idea.
For the week ended May 30, the CDT Roundup reported on 14 transactions valued at a nearly $19.9 billion.
That falls short of last week's 15 deals for $75 billion, but within shouting distance of the 19 transactions valued at $23 billion at this time last year.
That and more in this edition of CDT Roundup.