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For the week ended May 2, the CDT Roundup reported on 13 deals valued at nearly $37.9 billion. The prior week had 11 deals reported with a total value of about $19.7 billion, while a year ago at this time, the Roundup reported on 11 deals valued about $4.3 billion.
On the M&A side, the week proved to be all about power and energy and data centers. That and more in this week's CDT Roundup.
British oil and gas giant Shell announced Monday an agreement to acquire ARC Resources, a Canadian energy company focused on the Montney shale basin in British Columbia and Alberta, in a deal with a total enterprise value of about $16.4 billion.
Baker Botts is acting as U.S. regulatory counsel to Calgary-based ARC Resources. Travis Torrence is head of legal for Shell USA.
For the week ended April 25, the Roundup reported on 11 deals worth about $19.7 billion, or maybe $69.7 billion, depending on how SpaceX's latest acquisition pans out.
Aside from the SpaceX rent-to-own deal this week's slate of transactions includes the acquisition of a Brazilian Rare Earth source with a 15-year offtake agreement with the U.S.-backed buyer already in place; a $1.5 billion investment in a REIT that specializes in communications towers; the reverse-merger of an offshore oil services firm with a Houston-based competitor; the acquisition of a fiber provider in Alaska; the sale of a compression services provider to a Lubbock firm and the sale of a minority stake in a hyperscale data center developer.
That and more in this edition of CDT Roundup.
SpaceX said in a social media post that it has an option to acquire Cursor later this year for $60 billion, "or pay $10 billion for our work together.” That work is aimed at creating “the world’s best coding and knowledge work AI.”
Gibson Dunn advised SpaceX, while Kirkland advised Cursor.
For the week ended April 18, the CDT Roundup reported on 14 deals with a total valuation of just over $3.5 billion, and nearly half of that value came from one deal. The prior week had 10 deals reported with a total value of slightly more than $5 billion, while a year ago at this time, the Roundup reported on 13 deals valued at nearly $2.4 billion. While total deal volume is up of late, total values are muted somewhat by a number of deals reported sans financial terms.
That and more in this edition of CDT Roundup.
Fort Worth private equity firm TPG announced this week that it has agreed to acquire Learfield, a Plano-based media company that specializes in monetizing the intellectual property of college athletics.
Houston energy technology company Baker Hughes has agreed to sell its Waygate Technologies business to Hexagon, a Swedish measurement technologies firm, for about $1.45 billion cash.
For the week ended April 11, the CDT Roundup saw 10 deals reported with a total valuation of just over $5 billion. The prior week had 11 deals reported with a total value of $33 billion, dominated by a $29.1 billion megamerger between food distribution giants Sysco and Jetro Restaurant Depot. A year ago at this time, the Roundup reported on eight deals valued at about $2.4 billion.
This week, however, credit and capital markets dominate the deal numbers. Maybe "dominate" is strong a word to describe three debt issues, a $167 million PIPE and a secondary equity offering that forced a dip in a company stock.
Alternative investment manager Ares Management Corp. said on Thursday that it has agreed to acquire Houston-based Whitestone REIT for $19 a share, or about $1.7 billion, in cash.
Kirkland is outside legal advisor to Ares and Whitestone's general counsel is Peter Tropoli.
Kansas City business law firm Spencer Fane is combining with Tulsa-based Conner & Winters, which has more than 75 attorneys practicing from offices in Northwest Arkansas, Oklahoma and Texas, specializing in energy, construction, health care, litigation, finance, and other commercial matters.
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