© 2012 The Texas Lawbook.
By Mark Curriden, JD
Senior Legal Affairs Writer for The Texas Lawbook
Two private equity firms have agreed to spend $850 million to take publicly traded Houston-based TPC Group private.
First Reserve Corp. and SK Capital Partners have offered to pay $40 a share for the specialty chemical maker. TPC Group shareholders must approve the deal.
Baker Botts, led by corporate M&A partner Breen Haire in Houston, represented TPC in the transaction. Baker Botts has been TPC’s outside counsel for several years, representing the company on financing transactions and in connection with their registration as a public reporting company.
Haire, whose practice focuses on mergers, acquisitions and securities offerings, represented Schlumberger Limited, which is the world’s largest oilfield services corporation, in its $11.3 billion acquisition of Houston-based Smith International in 2010. That same year, Haire led Housotn-based Mariner Energy in its $3.9 billion sale to Apache Corp. Then, only a few months later, Haire represented another Houston energy company, McMoRan Exploration Co., in its $818 million acquisition of Gulf of Mexico shelf properties from Plains Exploration & Production Company.
Other Texas-based Baker Botts lawyers involved in the deal were corporate partner Stephen Massad, executive compensation partner Gail Stewart, tax partner Michael Bresson, finance partners Herschel Hamner and Luke Weedon, litigation partners David Sterling and Danny David, and energy regulatory partner James Barkley.
First Reserve and SK Capital are represented by Simpson Thacher & Barlett.
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