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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.
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.
Another two Dallas partners have joined their former Winston & Strawn colleagues at King & Spalding. Jeff Cole and Brian Jansen were named partners in the finance and restructuring practice group.
The CDT Roundup saw 11 deals reported for the week ended April 4 with a total valuation of nearly $33 billion. The prior week had 13 deals reported with a total value of $10.7 billion, while a year ago at this time there were 19 deals valued at $27.76 billion.
The bulk of the week’s value derives from a $29.1 billion megamerger between two food distribution giants, Sysco and Jetro Restaurant Depot.
But the most interesting may be the much smaller acquisition — finally — of The Container Store by Beyond, Inc., better known by its pre-bankruptcy moniker Bed Bath & Beyond.
That and more in this edition of CDT Roundup.
Houston food distribution giant Sysco said Monday that it agreed to acquire Jetro Restaurant Depot for $21.6 billion cash and 91.5 million common shares, representing a total enterprise value of about $29.1 billion.
Jennifer Kaplan Schott is Sysco's Chief Legal Officer and Eve McFadden is General Counsel.
Paul Weiss, Jones Day, Wachtell and Latham & Watkins advised on the deal.
The week ended March 28 saw 13 deals with a total reported value of $10.7 billion. The week prior boasted 11 deals valued at $7.5 billion. This time a year ago, there were 21 deals valued at nearly $8.2 billion. We'll choose to reckon stability in those numbers.
Last week's deals had Texas companies in transactions for increased investment in healthcare-related AI platforms, more data centers, and geothermal power development. While Texas lawyers advised on deals for a gas-fired power plant in the West Texas town of Pecos, a mining outfit in Greenland, and a Canadian provider of liquid cooling technologies for AI development.
Minnesota-based Ecolab has agreed to acquire CoolIT Systems, a Calgary-based provider of liquid cooling technologies for AI and high-performance computing, from investment firm KKR for about $4.75 billion cash.
Kirkland & Ellis advised KKR and CoolIT, while Covington & Burling advised Ecolab.
For the week ended March 21, the CDT Roundup saw 11 deals with a total reported value of about $7.5 billion, mostly attributable to Constellation Energy shedding some PJM assets to LS Power for $5 billion. A Houston energy services company leaped up in the supply chain, acquiring an Irving energy company and 30 turbine delivery slots; a U.K. hyperscaler bought a power company in order to build one of the world's largest AI factories in West Virginia; two blank check companies issued IPOs in search of "disruptive technology companies" and "robotics, electric vehicles, drones, unmanned aerial systems and fintech" firms. That and more in this edition of CDT Roundup.
Eversheds Sutherland named Phyllis Y. Young partner and head of the multinational firm’s Texas finance team within its U.S. Finance Practice Group.
For the week ended March 14, the CDT Roundup saw 13 deals reported — same as the week prior and the same as this time last year. The reported values were different, ranging from $5.9 billion last week, down from $48.1 billion during the prior week and $13.7 billion last year. The bump in value in our last report derived from BlackRock's $33 billion take-private deal of AES. There was nothing of that magnitude this week.
There was, however, plenty of energy represented.
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