Banking Steals Deal Spotlight This Week as Consolidation Continues

For the week ended Nov. 1, the CDT saw 20 deals come across the wires with a total value of $25.9 billion.

If you care to be really picky, that’s a drop from the 19-deal $61.5 billion stretch the week prior, and less again than the 12-deal $52 billion week at this time last year.

But that’s being really, really picky. In the eight weeks since mid-September, we’ve seen six with values over $20 billion, and two of those over $40 billion.

The largest deals of the week, however, were in banking and insurance — not data center deals. Huntington Bancshares of Ohio announced its acquisition of Cadence Bank, which has dual headquarters in Houston and Tupelo, Miss., in a stock swap valued at about $7.4 billion. The next largest deal had insurance giant AIG and Canadian investment firm Onex acquiring private specialty insurer Convex for $7 billion.

Elsewhere, an Aussie firm got $3 billion from the Saudis to build data centers in the Kingdom, and a Pittsburgh upstream natural gas company got $2 billion to remain focused on the development of the Marcellus Shale play. An Austin oil and gas private equity firm raised another billion-plus to invest where its sees “a continued imbalance between energy supply and demand,” and one Texas start-up got some funding to expand its AI-driven platform for the financial services sector while another Texas start-up got some funding to expand its community-driven wellness platform.

There were plenty of other deals last week involving Texas law firms and Texas lawyers, including a $1.5 billion loan from the Department of Energy to Wabash Valley Resources to finance a coal and ammonia fertilizer facility in West Terre Haute, Ind., that is part of The One Big Beautiful Bill.

Have a deal we should include next week?

The CDT Roundup is a regular feature from The Texas Lawbook highlighting the work Texas dealmakers are doing inside and outside the state.

Please let us know at CDTRoundup@texaslawbook.net by sharing a news release or a short blurb containing the date of the deal, a brief description, a link to any public announcement, the lead lawyers and their offices, as well as any Texas lawyers who advised on the deal.

Allen Pusey contributed to this report.

Weekly Corporate Deal Tracker Roundup Stats

A compilation of weekly stats from The Lawbook's CDT Weekly Roundup
(Deal Values in Millions)

Week Ending	Deal Count	Amount	Firms	Lawyers	M&A Count	M&A Value $M	CapM Count	CapM Value $M
01-Nov-25	20	$25,927	12	152	14	$21,455	6	$4,472
25-Oct-25	19	$61,470	14	262	18	$60,894	1	$576
18-Oct-25	14	$47,792	12	130	13	$46,592	1	$1,200
11-Oct-25	14	$17,361	9	104	7	$14,444	7	$2,917
04-Oct-25	21	$20,843	15	236	10	$15,376	11	$5,467
27-Sept-25	16	$22,774	12	219	10	$19,103	6	$3,671
20-Sept-25	24	$11,305	13	238	16	$6,209	8	$5,096
13-Sept-25	20	$26,575	11	225	12	$20,971	8	$5,604
06-Sept-25	19	$8,622	12	190	13	$2,880	6	$8,622
30-Aug-25	10	$6,569	9	109	7	$3,519	3	$3,050
23-Aug-25	23	$15,207	10	129	18	$14,500	5	$707
16-Aug-25	13	$26,405	12	149	7	$3,180	6	$23,225
09-Aug-25	19	$16,066	16	245	15	$11,307	4	$4,759
02-Aug-25	17	$19,480	11	104	13	$18,002	4	$1,478
26-Jul-25	15	$3,164	12	96	12	$3,0023	3	$162
19-Jul-25	14	$6,080	14	97	9	$4,165	5	$1,915
12-Jul-25	15	$13,012	14	208	12	$10,902	3	$2,110
05-Jul-25	9	$15,778	8	91	4	$7,280	5	$8,498
28-Jun-25	13	$7,777	8	154	7	$2,031	6	$5,746
21-Jun-25	16	$5,984	10	113	11	$3,087	5	$2,897
14-Jun-25	9	$478	8	133	6	0	3	$478
07-Jun-25	16	$26,210	11	196	11	$24,744	5	$1,466
31-May-25	19	$23,381	11	166	12	$18,665	7	$4,717
24-May-25	15	$24,033	11	121	13	$23,624	2	$409
17-May-25	16	$21,760	12	145	11	$18,615	5	$3,145
10-May-25	24	$33,175	16	206	19	$30,765	5	$2,410
03-May-25	11	$4,249	13	90	11	$2,226.5	2	$2,022.5
26-Apr-25	12	$8,787	9	168	9	$6,011	3	$2,776
19-Apr-25	11	$8,097	7	138	9	$7,985	2	$112
12-Apr-25	13	$2,392	8	152	10	$2,065	3	$327
05-Apr-25	19	$27,762	15	188	16	$25,473	3	$2,289
29-Mar-25	21	$8,188	10	258	16	$4,125	5	$4,064
22-Mar-25	19	$6,485	14	231	15	$4,128	4	$2,857
15-Mar-25	13	$13,737	13	151	10	$9,932	4	$3,805
8-Mar-25	7	$2,234	5	66	5	$224	2	$2,100
1-Mar-25	11	$3,050	8	75	10	$2,550	1	$500
24-Feb-25	12	$16,397	7	149	6	$6,635	6	$9,862
17-Feb-25	17	$12,136	13	134	10	$9,411	2	$2,725
10-Feb-25	14	$7,154	9	179	9	$4,950	5	$2,204
3-Feb-25	16	$10,068	7	200	11	$7,553	5	$2,515
25-Jan-25	14	$10,261	10	125	9	$2,207	5	$8,054
18-Jan-25	19	$7,382	15	316	12	$2,300	7	$5,082
11-Jan-25	21	$33,560	16	187	16	$32,521	5	$1,039
4-Jan-25	9	$6,827	9	80	9	$6,827	0	0
21-Dec-24	11	$2,798	11	92	8	$2,229	3	$570
14-Dec-24	15	$5,323	12	186	12	$3,812	3	$1,511
07-Dec-24	16	$4,766	10	231	11	$2,321	5	2,445
30-Nov-24	10	$10,291	9	103	4	$8,290	6	$2.001
23-Nov-24	15	$4,553	15	153	11	$3,379	4	$1,174
16-Nov-24	17	$11,488	11	245	13	$10,186	4	$1,303
09-Nov-24	14	$2,110	12	139	12	$1,410	2	$700
02-Nov-24	12	$52,788	11	107	11	$52,738	1	$50
26-Oct-24	8	$3,160	8	65	7	$3,065	1	$75
19-Oct-24	12	$5,304	11	136	11	$4,554	1	$750
12-Oct-24	17	$8,438	12	150	15	$8,116	2	$322
05-Oct-24	22	$23,181	12	189	15	$19,980	7	$3,201
28-Sep-24	11	$2,356	7	144	7	$53	4	$2,303
21-Sep-24	12	$9,568	10	169	5	$4,101	7	$5,467
14-Sep-24	24	$10,988	12	235	16	$7,175	8	$3,813
7-Sep-24	12	$20,420	16	168	11	$20,307	1	$112.9
31-Aug-24	13	$20,631	9	134	12	$14,775	1	$5,856
24-Aug-24	19	$8,452	21	325	16	$7,102	3	$1,350
17-Aug-24	25	$49,196	16	304	11	$39,386	14	$9,810
10-Aug-24	20	$12,264	15	312	16	$9,794	4	$2,470
03-Aug-24	26	$16,498	16	334	18	$8,137	8	$8,361
27-Jul-24	19	$16,442	21	271	15	$13,838	4	$2,604
20-Jul-24	15	$16,016	14	184	10	$14,232	5	$1,784
13-Jul-24	20	$17,220	14	265	18	$7,146	2	$10,074
6-Jul-24	11	$3,941	11	95	8	$2,650	3	$1,291
29-Jun-24	14	$6,296	15	224	8	$6,296	6	$1,927
22-Jun-24	12	$5,679	8	137	5	$210	7	$5,469
15-Jun-24	13	$9,895	16	214	10	$5,280	3	$4,615
8-Jun-24	19	$23,859	13	239	12	$19,436	7	$4,423
1-Jun-24	12	$34,510	11	147	9	$26,110	3	$8,400
25-May-24	13	$9,684	15	171	10	$4,434	3	$5,250
18-May-24	11	$5,490	11	173	8	$3,129	3	$2,361
11-May-24	22	$14,855	14	227	16	$11,105	6	$3,750
4-May-24	13	$3,139	9	87	10	$1,297	3	$1,842
27-Apr-24	10	$6,684	6	28	10	$6,684	0	0
20-Apr-24	19	$15,989	11	147	9	$5,208	10	$10,781
13-Apr-24	13	$8,952	9	76	10	$1,652	3	$7,300
6-Apr-24	23	$26,616	14	222	14	$13,501	8	$13,116
30-Mar-24	12	$9,286	8	136	8	$4,299	4	$4,987
23-Mar-24	18	$5,451	17	266	16	$4,759	2	$692
16-Mar-24	21	$11,437	13	186	14	$9,316	6	$2,070
9-Mar-24	23	$4,695	21	218	19	$2,723	4	$1,972
2-Mar-24	20	$9,108	19	372	14	$4,558	6	$4,550
24-Feb-24	19	$16,382	12	248	15	$9,507	4	$6,875
17-Feb-24	16	$29,932	15	157	12	$29,216	4	$716
10-Feb-24	25	$10,750	17	196	19	$5,372	6	$5,379
3-Feb-24	12	$8,416	18	125	9	$3,416	3	$5,000
27-Jan-24	9	$8,165	9	87	8	$7,815	1	$800
20-Jan-24	14	$4,084	12	109	12	$3,219	2	$865
13-Jan-24	17	$33,588	12	256	12	$26,765	5	$6,823
6-Jan-24	8	$7,915	8	84	6	$7,265	2	$650
30-Dec-23	17	$14,599	12	99	15	$2,714	2	$11,885
23-Dec-23	23	$4,182	13	219	16	$1,813	7	$2,370
16-Dec-23	13	$16,436	13	280	7	$15,150	5	$1,286
9-Dec-23	26	$14,633.90	17	244	16	$8,095	10	$6,538.90
2-Dec-23	13	$6,720	9	57	12	$6,630	1	$90
25-Nov-23	9	$4,835	9	131	6	$1,785	3	$3,050
18-Nov-23	22	$6,568.70	17	184	14	$4,709.20	8	$1,859.50
11-Nov-23	15	$9,825	13	179	12	$6,581	3	$3,244
4-Nov-23	15	$20,582.50	14	193	12	$19,417.50	3	$1,165
28-Oct-23	18	$68,419.10	18	152	15	$66,646	3	$1,773.10
21-Oct-23	16	$6,755.90	16	165	15	$6,755.90	1	$3
14-Oct-23	14	$67,851.20	13	125	9	$61,998.50	5	$5,852.70
7-Oct-23	17	$6,595.50	13	228	16	$5,995.50	1	$600
30-Sep-23	17	$1,896.45	13	189	14	$806.45	3	$1,090
23-Sep-23	23	$6,432.70	17	230	16	$1,402.80	7	$5,029.90
16-Sep-23	25	$23,226.70	23	353	16	$17,239	9	$5,987.70
9-Sep-23	12	$6,369	8	102	7	$4,311	5	$2,058
2-Sep-23	14	$2,522	6	92	13	$1,322	1	$1,200
26-Aug-23	17	$12,160.25	13	202	15	$6,573.25	2	$5,587.00
19-Aug-23	19	$11,505	13	213	15	$11,255	4	$250
12-Aug-23	19	$9,698.80	13	184	7	$3,270	12	$6,428.80
5-Aug-23	13	$5,201	12	118	12	$5,051	1	$150
29-Jul-23	15	$21,031.60	13	196	11	$18,292.00	4	$2,739.60
22-Jul-23	18	$3,992	12	130	13	$2,808	5	$1,184
15-Jul-23	13	$8,254.95	13	81	13	$8,254.95	0	0
8-Jul-23	16	$5,441.45	12	172	11	$2,443	5	$2,998.45
1-Jul-23	16	$6,872	10	105	12	$5,474	4	$1,398
24-Jun-23	13	$10,914	16	201	10	$7,874	3	$3,040
17-Jun-23	17	$5,880.70	15	151	15	$4,705.70	2	$1,175
10-Jun-23	19	$8,516.10	13	111	16	$6,252.40	3	$2,263.70
June 3 2023	12	$6,104.42	12	138	8	$4,256.92	4	$1,847.50
27-May-23	17	$12,200	10	67	11	$6,165	6	$6,035
20-May-23	11	$22,458.10	8	103	4	$19,455	7	$3,003
13-May-23	12	$7,034	10	101	8	$5,460	4	$1,574
6-May-23	20	$3,297.60	18	196	17	$2,985.60	3	$312
29-Apr-23	23	$3,691.20	18	135	17	$1,969.70	6	$1,721.50
22-Apr-23	16	$5,570	14	104	14	$4,750	2	$1,000
15-Apr-23	12	$23,818.10	9	59	10	$21,618.10	2	$2,200
8-Apr-23	16	$7,949	9	173	9	$5,472	7	$3,477
1-Apr-23	21	$18,676.70	12	175	11	$10,926.70	10	$7,750
25-Mar-23	15	$8,779.50	10	141	5	$2,362	10	$6,416.50
18-Mar-23	7	$14,048.80	6	69	5	$13,345	2	$703.80
11-Mar-23	21	$11,576	16	165	16	$8,131	5	$3,445
4-Mar-23	20	$9,668	11	228	16	$8,209	4	$1,459
25-Feb-23	13	$5,335	13	130	12	$4,235	1	$1,200
18-Feb-23	14	$5,743.70	13	158	8	$898.70	6	$4,845
11-Feb-23	16	$12,088	12	137	12	$9,965	4	$2,123
4-Feb-23	17	$8,066	15	140	13	$5,614	4	$2,452
28-Jan-23	7	$2,180	7	75	5	$1,692.75	2	$488
21-Jan-23	17	$5,768	16	174	12	$1,918	5	$3,850
14-Jan-23	11	$2, 800	10	102	8	$421	3	$2,400
7-Jan-23	18	$8,296	11	167	14	$6,461	3	$1,835
31-Dec-22	14	$2,732	11	99	12	$2,092	2	$640
17-Dec	14	$7,919	13	115	12	$7,419	1	$500
10-Dec-22	14	$10,093	12	88	11	$7,093	3	$3,000
3-Dec-22	26	$12,800.90	11	172	20	$4,141	6	$8,659.90
26-Nov-22	8	$2,266.70	8	5	3	$76	5	$2,190.70
19-Nov-22	21	$2,886	15	212	19	$2,550	2	$336
12-Nov-22	13	$15,093.70	9	81	9	$14,200	4	$893.70
5-Nov-22	25	19,337.20	16	509	22	$8,267.20	3	$11,070
29-Oct-22	15	$7,805.30	9	116	14	$7,180.30	1	$625
22-Oct-22	20	$8,193.50	13	253	13	$5,442	7	$2,751.50
15-Oct-22	9	$3,046.10	9	139	7	$2,588.30	2	$457.80
8-Oct-22	19	$2,011.80	12	114	16	$833.80	3	$1,178
1-Oct-22	23	$5,532.90	16	156	18	$4,952.30	5	$580.60
24-Sep-22	18	$5,194	14	216	15	$4,050	3	$1,144
17-Sep-22	21	$8,352.30	12	320	15	$4,759.60	6	$3,592.70
10-Sep-22	15	$19,853.50	10	126	13	$19,403.60	2	$450
3-Sep-22	9	$2,312	9	62	9	$2,312	0	0
27-Aug-22	16	$30,891.70	10	135	15	$30,666.40	1	227.7
20-Aug-22	12	$1,977	8	152	9	925	3	$1,052
13-Aug-22	18	$8,004.70	11	242	11	$2,844.70	7	$5,160
6-Aug-22	24	$7,948.90	12	240	17	$3,577	7	$4,371.90
30-Jul-22	8	$6,941	9	78	7	$6,839	1	$102
23-Jul-22	11	$801	11	92	10	$801	1	0
16-Jul-22	14	$3,650	10	122	14	$3,650	0	0
9-Jul-22	10	$3,557.70	7	68	9	$3,557.70	1	0
2-Jul-22	18	$8,609.40	13	152	15	$2,754.40	3	$5,855
25-Jun-22	15	$6,142	13	146	9	$2,017	6	$4,125
18-Jun-22	17	$11,890.10	14	228	15	$11,410	2	479.7
11-Jun-22	17	$7,600	12	123	10	$2,300	7	$5,300
4-Jun-22	12	$2,937	10	127	9	$692	3	$2,245
28-May-22	9	$3,197.60	11	86	9	$3,197.60	0	0
21-May-22	14	$7,284.50	12	185	11	$6,609	3	$675.50
14-May-22	11	$306.60	9	80	10	$306.60	1	$225
7-May-22	16	$10,451.75	12	108	12	$1,827	4	$8,624.75
30-Apr-22	16	$2,296.50	16	157	12	$895.50	4	$1,401
23-Apr-22	10	$2,241	11	58	8	$1,641	2	$600
16-Apr-22	11	$6,643	7	156	8	$2,359	3	$4,284
9-Apr-22	17	$4,429	14	184	11	$1,690	6	$2,739
2-Apr-22	13	$1,755	8	84	10	$1,145	3	$610
26-Mar-22	11	$3,205	8	65	6	$200	5	$3,005
19-Mar-22	13	$2,239.17	9	106	13	$2,239.17	0	0
12-Mar-22	18	$12,016	11	239	15	$11,965	2	$51.35
5-Mar-22	17	$6,786	13	137	13	$5,161	4	$1,625
26-Feb-22	12	$5,095	8	149	9	$4,437.50	3	$658
19-Feb-22	17	$22,229	17	174	14	$21,354	3	$875
12-Feb-22	12	$2,344.70	10	73	8	$641.70	4	$1,703
5-Feb-22	11	$2,503	8	99	11	$2,503	0	0
29-Jan-22	11	$3,872	12	101	12	$3,872	0	0
22-Jan-22	13	$5,143.50	10	99	12	$4,842.50	1	$301
15-Jan-22	12	$7,605	9	155	9	$6,480	3	$1,025
8-Jan-22	13	$8,256.20	11	102	13	$8,256.20	0	0
1-Jan-22	9	$1,273.80	6	50	9	$1,273.80	0	0
25-Dec-21	21	$4,734.75	11	176	16	$3,410	5	$1,324.75
18-Dec-21	26	$7,325.20	15	193	18	$3,640.20	8	$3,685.20
11-Dec-21	16	$5,017	10	109	13	$1,417	3	$3,600
4-Dec-21	14	$2,310	8	86	8	$2,310	6	$1,882.05
27-Nov-21	9	$3.460.1	10	101	6	$1,758	3	$1,702.60
20-Nov-21	20	$22,792	15	157	12	$18,864.50	8	$3,928
13-Nov-21	21	$26,729	12	178	13	$11,822	8	$14,907
6-Nov-21	12	$8,303	13	157	10	$6,682	3	$1,621
30-Oct-21	21	$10,368	15	218	15	$9,24.4	6	$1,103.00
23-Oct-21	21	$18.783.1	15	222	11	$12,314	10	$6,468.60
16-Oct-21	15	$3,868	11	118	15	$2,293	2	$1,575
9-Oct-21	20	$8,610	16	175	16	$7,795	4	$815
2-Oct-21	14	$6,250	11	137	10	$5,200	4	$1,050
25-Sep-21	11	$11,460	9	93	7	$10,200	4	$1,250
18-Sep-21	11	$16,603	8	99	8	$15,084	3	$1,519
11-Sep-21	17	$10,653	11	103	13	$8,503	4	$2,150
4-Sep-21	13	$7,222	10	89	11	$6,715	2	$507
28-Aug-21	12	$763	9	63	11	$663	1	$100
21-Aug-21	12	$29,659	7	79	11	$29,579	1	$80
14-Aug-21	22	$17,845	11	199	12	$12,805	10	$5,04
7-Aug-21	17	$13,670	12	139	15	$11,766	2	$1,904
31-Jul-21	21	$8,160	11	134	10	$3,574	10	$4,586
July 24,2021	21	$6,367	11	139	15	$3,712	6	$2,655
17-Jul-21	14	$4,009	11	124	12	$2,015	2	$1,994
10-Jul-21	16	$3,997	13	143	11	$1,597	4	$2,4
3-Jul-21	24	$7,492	13	94	16	$3,769	8	$3,722
26-Jun-21	10	$4,995	7	85	8	$3,847	2	$1,148
19-Jun-21	28	$16,830	8	228	9	$1,861	19	$14,968
12-Jun-21	26	$27,238	15	209	19	$25,602	7	$1,636
5-Jun-21	15	$15,539	13	100	13	$14,709	2	$600
29-May-21	35	$20,279	11	145	28	$18,64	7	$1,639
22-May-21	24	$53,208	14	174	17	$51,047	7	$2,161
15-May-21	18	$10,620	13	220	11	$5,870	7	$4,809
8-May-21	17	$10,400	11	156	15	$8,386	2	$2,500
1-May-21	21	$7,200	16	115	12	$3,808	9	$3,392
24-Apr-21	8	$20,200	9	31	8	$20,200	0	0
17-Apr-21	14	$6,270	8	102	11	$40,180	3	$2,260
10-Apr-21	15	$8,940	13	129	14	$7,990	1	$950
3-Apr-21	18	$19,513	10	151	12	$16,923	6	$2,590
27-Mar-21	27	$13,942	15	244	14	$4,300	13	$9,633.50
20-Mar-21	11	$2,046	4	102	3	$270	8	$1,776
13-Mar-21	15	$3,270	9	109	6	$538	9	$2,732
6-Mar-21	24	$13,617	10	196	13	$10,395	11	$3,222
27-Feb-21	19	$8,105	12	139	15	$4,970	4	$3,135
20-Feb-21	9	$8,820	9	153	8	$8,520	1	$300
13-Feb-21	12	$4,852.60	7	81	7	2,766	5	$2,086.60
6-Feb-21	18	$9,752	13	153	14	$5,222	4	$4,530
30-Jan-21	18	$9,449	9	182	15	$8,753.80	3	$695.30
23-Jan-21	14	$8,150	8	118	6	$4,000	8	$4,150
16-Jan-21	17	$6,783	13	138	11	$2,400	6	$4,382.90
9-Jan-21	22	$6,829	14	135	18	$3,139.30	4	$3,690
2-Jan-21	7	$1,466	7	60	7	$1,466	0	0
26-Dec-20	18	$15,900	12	163	16	$5,300	1	$600
19-Dec-20	18	$9,769	14	110	14	$8,426	4	$1,343
12-Dec-20	10	$7,200	9	100	9	$3,325	1	$3,830
5-Dec-20	15	$4,261	9	122	9	$2,780	6	$1,481
28-Nov-20	19	$7,758	10	110	13	$4,003	6	$3,755
14-Nov-20	14	$864.10	14	157	12	$289.10	2	$575
7-Nov-20	13	$6,332	9	129	9	$2,483.50	4	$3,849
31-Oct-20	10	$3,995.80	8	103	6	$3,231.10	4	$754.70
24-Oct-20	6	$18,100	6	58	5	$17,709	1	$350
17-Oct-20	8	$351.90	5	55	8	$351.90	0	0
10-Oct-20	7	$5,229	3	50	4	$735	3	$4,494
3-Oct-20	14	$21,428	9	173	9	$17,535	5	$3,893
26-Sep-20	10	$12,770	8	93	5	$10,300	5	$2,470
19-Sep-20	14	$8,365	9	101	6	$1,020	8	$7,345
12-Sep-20	6	$4,406	8	59	3	$1,270	3	$3,136
5-Sep-20	11	$5,191	8	117	9	$4,061	2	$1,130
29-Aug-20	11	$2,531	9	94	5	$1,130	6	$1,401
22-Aug-20	18	$6,574	12	140	7	$1,930	11	$4,644
15-Aug-20	13	$4,991	10	97	7	$1,216	6	$3,775
8-Aug-20	12	$32,092	11	112	9	$30,457	3	$1,635
1-Aug-20	7	$5,287	8	76	5	$3,687	2	$1,600
25-Jul-20	9	$18,751	6	67	7	$18,403	2	$348
18-Jul-20	6	$1,982.50	5	50	4	$1,407.50	2	$575
11-Jul-20	11	$565.10	12	75	10	$65.10	1	$500
4-Jul-20	10	$8,889	8	98	9	$8,788	1	$100.30
27-Jun-20	8	$6,874	10	50	5	$4,972.50	3	$2,081.50
20-Jun-20	12	$4,444	9	115	7	$2,829	5	$1,615
13-Jun-20	6	$3,582	4	37	2	$350	4	$3,232
6-Jun-20	11	$3,213.70	8	65	7	$470	4	$2,743.70
30-May-20	8	$7,335	7	48	6	$4,639	2	$2,697
23-May-20	4	$432.40	4	34	3	$432.40	1	0
16-May-20	6	$310	6	34	5	$310	1	0
9-May-20	18	$5,630	16	124	14	$3,180	4	$2,450
2-May-20	15	10,400	10	90	8	$1,900	7	$,8,500
25-Apr-20	8	$3,400	9	36	5	$1,000	3	$2,450
18-Apr-20	19	$9,500	14	92	8	$185.70	11	$9,360
11-Apr-20	12	$6,000	9	40	5	$190	7	$5,800
4-Apr-20	14	$8,200	11	68	10	$2,200	4	$6,000
28-Mar-20	16	$6,500	13	96	10	$3,700	6	$2,800
21-Mar-20	11	$11,910	7	33	7	$2,250	4	$9,960
14-Mar-20	7	809.8	6	34	6	684.8	1	125
7-Mar-20	16	$2,500	15	70	13	$669	3	$1,400
29-Feb-20	13	$15,260	13	128	11	$11,760	2	$3,500
22-Feb-20	12	$3,700	10	92	10	$2,560	2	$1,130
15-Feb-20	16	$1,250	10	84	12	$35	4	$1,222
8-Feb-20	18	$6,080	14	123	14	$2,595	4	$3,485
1-Feb-20	21	$20,900	12	101	14	$17,860	7	$3,060
25-Jan-20	13	$7,430	13	62	12	$6,430	1	$1,000
18-Jan-20	23	$9,580	15	120	19	$6,580	4	$3,000
11-Jan-20	21	$14,200	18	199	16	$1,020	5	$13,200
4-Jan-20	22	$6,400	11	119	16	$3,204	6	$3,245
28-Dec-19	22	$7,150	19	175	18	$6,800	4	$327.40
14-Dec-19	24	$36,300	23	167	19	$9,500	5	$26,800
7-Dec-19	11	$10,400	11	55	7	$1,082	4	$9,370
November 30. 2019	14	$2,450	12	126	12	$1,760	2	$692.50
23-Nov-19	16	$1,995	10	41	11	$615	5	$1,380
16-Nov-19	15	$3,820	13	135	11	$2,500	4	$1,271
9-Nov-19	25	$12,900	17	182	23	$12,200	2	$575
2-Nov-19	10	$2,470	12	61	9	2,450	3	$22
26-Oct-19	12	$5,560	14	70	11	$3,860	1	$1,700
19-Oct-19	8	$6,600	8	138	8	$6,600	0	0
12-Oct-19	19	$4,300	14	55	16	$3,800	3	$500
5-Oct-19	18	$14,500	19	166	15	$11,100	3	$3,400
28-Sep-19	19	$8,100	18	132	18	$7,560	1	$550
21-Sep-19	14	$6,300	16	66	11	$2,160	3	$4,170
14-Sep-19	15	$23,800	12	56	11	$21,250	4	$2,570
7-Sep-19	17	$3,500	15	98	14	$1,900	3	$1,600
31-Aug-19	5	$8,700	6	50	5	$8,700	0	0
24-Aug-19	16	$10,000	14	82	15	$4,250	1	$5,750
16-Aug-19	10	$1,680	5	52	7	$650	3	$950
9-Aug-19	17	$17,700	15	68	14	$3,900	3	$13,800
2-Aug-19	13	$5,760	12	108	13	$5,760	NA	NA
27-Jul-19	11	$7,300	13	76	8	$6,570	3	$730
20-Jul-19	13	$11,800	13	125	11	$5,300	2	$6,500
13-Jul-19	10	$775	7	46	8	$542.50	2	$233
6-Jul-19	7	$2,500	9	85	7	$2,500	0	0
29-Jun-19	23	$8,290	15	154	17	$2,300	6	$5,970
22-Jun-19	17	$10,700	10	139	14	$7,700	3	$3,000
15-Jun-19	11	$13,500	14	160	11	$13,500	NA	NA
8-Jun-19	13	$2,870	17	55	11	$1,570	2	$1,300
1-Jun-19	10	$4,460	11	60	8	$4,140	2	$315
25-May-19	17	$4,360	14	79	14	$3,700	3	$612
18-May-19	22	$9,000	17	150	16	$3,400	6	$5,600
11-May-19	18	$19,800	17	177	15	$18,300	3	$1,500
4-May-19	10	$7,075	6	32	8	$6,900	2	$175
27-Apr-19	15	$3,200	14	117	14	$3,160	1	$40
20-Apr-19	13	$13,500	10	90	9	$12,200	4	$1,300
13-Apr-19	16	$38,900	14	91	14	$37,800	2	$1,100
6-Apr-19	12	$6,870	11	94	10	$6,730	2	$50
30-Mar-19	15	$6,470	12	84	10	$7,91.5	5	$5,677
23-Mar-19	18	$6,450	14	91	14	$5,042	4	$1,408
16-Mar-19	14	$10,180	12	115	11	$8,800	3	$1,300
9-Mar-19	9	$1,800	6	49	8	$1,300	1	$500
2-Mar-19	20	$3,033	16	107	14	$1,817	6	$1,262
23-Feb-19	12	$2,040	8	69	9	$614.60	3	$1,430
16-Feb-19	16	$9,970	18	77	16	$9,970	0	0
9-Feb-19	14	$6,400	10	110	14	$6,400	0	0
2-Feb-19	18	$6,740	15	99	16	$5,720	2	$950
26-Jan-19	13	$2,770	11	67	11	$918.95	2	$1,850
19-Jan-19	15	$3,819	16	76	12	$2,594	3	$1,225
12-Jan-19	18	$7,283	14	92	15	$1,683	3	$5,600
5-Jan-19	10	$529	12	50	10	$529	0	0
22-Dec-18	17	$2,570	13	87	14	$941	3	$1,629
15-Dec-18	10	$2,860	8	26	8	$264	2	$2,600
8-Dec-18	15	$1,819	16	65	12	$552	3	$1,267
1-Dec-18	12	$7,500	10	90	9	$1,200	3	$6,200
28-Nov-18	15	$4,500	11	107	14	$4,000	1	$500
19-Nov-18	18	$6,137	13	98	13	$2,142	5	$3,995
14-Nov-18	18	$9,200	13	152	15	$8,500	3	$694
6-Nov-18	16	$17,300	16	183	14	$16,361	2	$950
29-Oct-18	14	$14,400	18	127	17	$13,800	1	$600
24-Oct-18	13	$6,140	13	126	11	$5,122	2	$1,018
17-Oct-18	18	$18,390	15	125	14	$12,292	4	$6,098
10-Oct-18	29	$3,149	18	104	20	$1,647	9	$819
2-Oct-18	18	$9,300	11	67	14	$7,300	4	$2,000
25-Sep-18	13	$7,000	11	75	10	$6,000	3	$995
18-Sep-18	9	$3,570	7	44	9	$3,570	0	0
11-Sep-18	13	$5,900	10	132	13	$5,900	0	0
7-Sep-18	14	$5,000	15	86	11	$4,000	3	$1,000
29-Aug-18	15	$20,700	14	79	13	$4,700	2	$16,000
20-Aug-18	10	$12,400	11	53	8	$11,380	3	$1,057
14-Aug-18	12	$19,900	12	132	9	$18,889	3	$1,011
7-Aug-18	16	$68,600	11	106	13	$67,259	3	$1,340
31-Jul-18	15	$15,100	15	95	11	$13,060	4	$2,060
23-Jul-18	13	$2,130	15	60	10	$1,804	3	$1,100
17-Jul-18	14	$5,370	17	98	9	$4,310	5	$1,100
9-Jul-18	16	$11,200	15	74	10	$11,080	6	$862
3-Jul-18	13	$7,000	7	81	12	$6,330	1	$750
25-Jun-18	15	$8,800	13	97	9	$4,970	6	$3,930
18-Jun-18	13	$14,200	14	80	7	$221	6	$14,290
11-Jun-18	12	$6,300	8	96	8	$5,910	4	$803
6-Jun-18	13	$14,500	10	88	8	$14,154	5	$579
31-May-18	11	$4,890	10	63	8	$3,240	3	$1,790
22-May-18	15	$20,400	11	63	9	$19,808	6	$885
15-May-18	15	$4,700	15	106	10	$3,900	5	$643
9-May-18	11	$1,400	13	88	9	$1,300	2	$560
1-May-18	8	$14,250	7	88	7	$13,400	1	$450
24-Apr-18	12	$5,300	6	61	11	$4,470	1	$800
17-Apr-18	9	$1,800	10	44	7	$2,330	2	$1,434
11-Apr-18	11	$2,500	8	32	6	$1,690	5	$809
3-Apr-18	15	$13,400	11	121	9	$12,020	6	$1,090
28-Mar-18	10	$4,000	10	92	7	$3,870	3	$215
19-Mar-18	17	$5,800	13	51	10	$590	7	$5,165
12-Mar-18	15	$3,130	11	43	11	$2,360	4	$788
6-Mar-18	19	$5,400	13	116	10	$1,530	9	$4,860
27-Feb-18	20	$6,600	13	69	14	$5,530	6	$1,030
19-Feb-18	15	$5,500	14	111	10	$3,990	6	$1,980
12-Feb-18	23	$10,900	17	157	12	$7,110	11	$3,840
5-Feb-18	16	$8,600	13	100	7	$1,330	9	$7,800
30-Jan-18	11	$12,600	11	68	5	$7,300	6	$4,982
24-Jan-18	19	$9,400	15	129	5	$2,010	14	$7,337
18-Jan-18	10	$6,280	8	49	2	$2,100	8	$4,188
9-Jan-18	12	$16,500	12	92	9	$15,890	3	$475
3-Jan-18	10	$2,500	9	47	8	$2,350	2	$150
27-Dec-17	15	$9,000	15	113	9	$7,568	6	$1,784
18-Dec-17	15	$13,800	16	164	9	$13,010	7	$1,118
11-Dec-17	14	$9,700	10	126	12	$2,940	4	$8,500
4-Dec-17	6	$1,800	6	31	5	$1,510	1	$300
28-Nov-17	7	$3,850	8	76	4	$3,260	3	$285
16-Nov-17	10	$2,700	10	48	6	$1,840	4	$856
8-Nov-17	15	$2,380	17	91	10	$1,860	5	$516
1-Nov-17	12	$4,700	17	94	9	$3,400	4	$1,300
23-Oct-17	15	$10,500	10	67	10	$9,780	4	$1,530
18-Oct-17	6	$2,000		37	3	$225	3	$1,820
10-Oct-17	12	$6,570		100	9	$3,880	3	$3,360
2-Oct-17	8	$3,100	11	19	3	$1,630	5	$1,750
25-Sep-17	8	$4,880	8	79	5	$2,660	5	$2,070
18-Sep-17	9	$4,770			3	$300	6	$4,470
12-Sep-17	11	$4,430			8	$2,030	3	$2,400
1-Sep-17	4	$1,310			3	$317	1	$1,000
23-Aug-17	11	$13,640	9		8	$11,840	3	$1,800

M&A/Fundings

Huntington Bancshares buys Cadence Bank for $7.4B

Deal Description: Huntington Bancshares continues expanding in Texas with its acquisition of Cadence Bank for $7.4 billion announced Oct. 27. Cadence — with dual headquarters in Houston and Tupelo, Miss. — has more than 390 locations across Texas and the South. Huntington operates over 1,000 branches many of which are in some of the fastest-growth areas of the country. Wachtell, Lipton, Rosen & Katz provides outside legal counsel to Huntington, while Sullivan & Cromwell is Cadence’s outside counsel. Please click here for more from The Lawbook on this latest bank consolidation.

Onex Corp., AIG acquire Convex Group from Onex Partners V about $7B

Deal Description: AIG said on Oct. 30 that it will acquire 35% of privately held specialty insurer Convex Group Limited for about $2.1 billion and a 9.9% stake in Onex Corp. for about $646 million. Toronto investment firm Onex Corp. will acquire 63% of the specialty property and casualty insurer for about $3.8 billion while rolling over its roughly $700 million existing interest; and Convex founding members will retain the remaining interests. The companies expect Convex to report gross premiums written in 2025 of up to $6 billion, representing 25% annual growth the last three years with an 18% average return on equity over that time.

AIG Financial Advisor: Morgan Stanley

AIG Outside Legal Counsel: Wachtell, Lipton, Rosen & Katz and Debevoise & Plimpton

Onex Corp. Financial Advisor: Goldman, Sachs & Co.

Onex Corp. Outside Legal Counsel: Latham & Watkins

Onex Partners V Outside Legal Counsel: Kirkland & Ellis

Kirkland Lawyers: Alvaro Membrillera (London), Adrian Duncan (London), David Feirstein (New York), Rajab Abbassi (New York), Doug Bacon (Houston/New York)

Financial Advisor to Certain Convex Investors: UBS Investment Bank

Outside Legal Counsel to a Convex Institutional Investor: Sidley Austin

Convex Group Financial Advisor: Evercore 

Convex Group Outside Legal Counsel: Weil, Gotshal & Manges led by Murray Cox in London

Convex Institutional Investor, PSP Investments, Outside Legal Counsel: Weil led by Doug Warner and Timothy Burns in New York

AirTrunk gets $3B to build data centers in Saudi Arabia

Deal Description: Saudi-owned AI company HUMAIN and AirTrunk, a private Australian firm backed by Blackstone that is building data centers in the Asia-Pacific region (Japan, Singapore, Malaysia, Australia, Hong Kong), said on Oct. 28 that AirTrunk will begin building data centers in Saudi Arabia with an initial investment of about $3 billion.

AirTrunk Outside Legal Counsel: Kirkland & Ellis

Kirkland & Ellis Texas Lawyers: Rhett Van Syoc (Houston/New York), Melissa Kalka (Dallas), Allan Kirk (Houston), Mary Kogut (Houston)

Elsewhere: Greg Scott (London), Irfan Ahmed (London), Celyn Evans (London), Shaun Chung (London), Evan Chavez (Miami), Kamran Bajwa (Riyadh), Noor Al-Fawzan (Riyadh), Osama Lone (Riyadh), Mohsin Iqbal (Riyadh), Kevin Ehrhart (Los Angeles), Tam Ho (New York), Katie Roddy (Los Angeles), Kim McGrath (Chicago), James Boswell (London), Andre Duminy (London), Matt Lovell (Chicago), Alexander Cox (London), Tomás McGrath (London)

EnCap closes $2B continuation vehicle for PennEnergy Resources

Deal Description: Houston private equity firm EnCap Investments said on Oct. 28 that it closed a continuation vehicle of more than $2 billion for Pittsburgh-based upstream oil and gas company PennEnergy Resources. EnCap said the continuation vehicle is anchored by funds affiliated with Andros Capital Partners and the Vintage Strategies at Goldman Sachs Alternatives, and includes an equity commitment from its Energy Capital Fund XII, the EnCap general partner and PennEnergy management.

Andros Capital Outside Legal Counsel: Gibson Dunn

Gibson Dunn Lead Lawyers: Michael Piazza and Jesse Myers in Houston

Gibson Dunn Lawyers: Edward Sopher (New York), Kate Timmerman (New York), Chris Atmar (Houston), Ali Speiss (Houston), James Jennings (New York), Doug Bresnick (New York)

EnCap Financial Advisors: Jefferies and Stephens Inc.

EnCap Outside Legal Counsel: Kirkland & Ellis

Kirkland Texas Lawyers: Stephen Noh (Houston), Matt Nadworny (Houston/Dallas), Jess Lepper (Austin), Nathan Wolcott (Houston), Brittany Sakowitz (Houston), Christopher Heasley (Houston), David Castro (Houston), Albert Jou (Houston), Bernadette Hayden (Houston), William Bos (Houston), Daly Brower (Dallas), Christie Alcala (Houston), Stephen Jacobson (Houston/New York), Grant Newman (Houston), Stacie Nguyen (Houston), Cat Leveque (Austin), Bree Prince (Houston), Cason Liles (Austin), Lauren Bingham (Dallas), Max Anderson (Dallas), Steve Butler (Austin/Houston), Paul Tanaka (San Francisco/Houston), James Dolphin (Houston)

Elsewhere: Mark Boyagi (New York), Patrick Vinett (New York), Andrew Silvia (New York), Ashley Lee (New York), Thomas Toman (New York), Brandon Barrett (New York), Nicole Martin (Salt Lake City), George Cartveli (New York), Nabil Sabki (Chicago), John Reinert (Chicago), Austin Eiland (Chicago) Sabrina Glaser (New York), Theodore Brown (Chicago), Alexandra Farmer (Washington, D.C.), Rhys Davies (London), Menaka Nayar (New York), Haania Amir (London), Jabir Yusoff (New York), Maureen O’Brien (Chicago), Andrew Stuyvenberg (Washington, D.C.), Anna Geml (Chicago), Michael Thorpe (Chicago), Mackenzie Pike (Chicago)

EnCap General Partner/PennEnergy Outside Legal Counsel: Vinson & Elkins

Formentera Partners raises $1.3B with Eaton Partners as placement agent

Deal Description: Eaton Partners said on Oct. 29 that it served as the exclusive placement agent for Formentera Partners Fund III that raised $1.31 billion from new and existing investors. Austin oil and gas private equity firm Formentera Partners said the firm anticipates “a continued imbalance between energy supply and demand, presenting significant opportunities for strategic transactions in the years ahead.” Formentera Partners now has $2.8 billion in total assets under management.

Formentera Partners Outside Legal Counsel: Kirkland & Ellis

Kirkland & Ellis Texas Lawyers: Ian Jelsma (Houston), Matt Nadworny (Houston/Dallas), Kim Dusseldorp (Austin), Jonathan Williams (Houston), Daniel Dreyfus (Houston), Steve Butler (Austin/Houston), Grant Newman (Houston)

Elsewhere: Dan Kahl (Washington, D.C.), Jennifer Kim-Gagne (Washington, D.C.), Jarvis Yau (Salt Lake City), Sabrina Glaser (New York), Ted Brown (Chicago)

Celanese sells Micromax portfolio to Element Solutions for $500M

Deal Description: Dallas chemical company Celanese Corp. announced Oct. 28 that it sold its Micromax portfolio of advanced electronic inks and pastes designed for high-performance electronics to South Florida-based specialty chemicals company Element Solutions Inc. for about $500 million in cash.

Celanese Financial Advisor: Morgan Stanley & Co.

Celanese General Counsel: Ashley Duffie

Celanese Outside Legal Counsel: Kirkland & Ellis and Allen Overy Shearman Sterling

Kirkland Lawyers: David Feirstein (New York), Jennifer Gasser (Houston), Benjamin Schreiner (New York), Rachel Malhiet (Austin)

BKV Corp. buys larger stake in Temple gas plants that power ERCOT grid for $231M

Deal Description: BKV Corp., the Denver-based, publicly traded power company controlled by Thailand’s Banpu PLC, said on Oct. 29 that it is acquiring another 25 percent, and control, of BKV-BPP Power LLC, its joint venture with Banpu Power US Corp., the American arm of Bangkok coal miner Banpu Public Co. Ltd. Terms included about $230.5 million in cash and stock. Following close of the transaction, BKV Corp. will own 75 percent of the joint venture that owns the Temple I and Temple II natural-gas plants in central Texas. BKV said it “continues to see substantial opportunities for growth in its power business, supported by robust load expansion in the ERCOT market in Texas, rising power demand from artificial intelligence and data center development in ERCOT North and the available capacity” at the Temple plants.

BKV Board Independent Counsel: Morris, Nichols, Arsht & Tunnell

BKV Financial Advisor: Moelis & Co.

BKV Outside Legal Counsel: Baker Botts

Baker Botts Lawyers: Samantha Crispin (Dallas), Sarah Dodson (Dallas), Jennifer Trejo (Dallas), Will Cozzens (Austin), Elizabeth Kirkland (Dallas), Richard Harper (New York), Steve Marcus (Dallas)

Uptiq.ai gets $12M to scale AI infrastructure product for financial services

Deal Description: McKinney-based Uptiq.ai said Oct. 28 that it raised $12 million in a new round of funding led by Austin early-stage venture capital firm Silverton Partners. Live Oak Venture Partners, Tau Ventures, First Capital and Green Visor Capital also provided funding. Uptiq.ai, an AI infrastructure for financial services company founded in 2022, plans to use the funding to scale its software, expand frameworks, grow teams, and deepen partnerships to make its product “the default AI layer for financial institutions worldwide.”  

Uptiq.ai Outside Counsel: Foley & Lardner

Foley & Lardner Lawyers: Louis Lehot (Silicon Valley), Eric Chow (Silicon Valley), Saige Gallop (San Diego) Robin Zhang (Silicon Valley)

Sweatpals gets $12M to expand its wellness platform

Deal Description: Austin-based Sweatpals, which bills itself as “the community-driven fitness platform transforming how people build meaningful connections through movement,” said on Oct. 28 that it raised $12 million in funding led by early-stage Silicon Valley investors Patron and a16z speedrun, and Kevin Hart’s HartBeat Ventures. Sweatpals said the funding will accelerate expansion of its platform that is “pioneering the movement from nightlife to daylife.” The company plans to use the investment for its national expansion as it “launches tools that help gyms, studios, instructors, and wellness hosts turn their communities into thriving social ecosystems, in turn helping like-minded people find each other through fitness.” Sweatpals said it has now raised $17.2 million since being founded in 2021 and has a presence in 24 cities with plans to launch in 12 more markets by early 2026. The company said it “empowers users to not only discover fitness classes, events, and communities, but also become hosts themselves, creating sustainable income streams while building authentic connections in their communities.”

Hitachi Energy acquires minority stake in Shermco

Deal Description: Hitachi Energy said Oct. 29 that it plans to invest more than $1 billion in its global service business to develop new digital service solutions and hire another 5,000 employees. The unit of Japanese multinational conglomerate Hitachi also said it acquired a minority stake for an undisclosed amount in Irving-based Shermco, an electrical services company that was acquired by Blackstone in August for $1.6 billion, as reported by The Lawbook.

Heavy-duty vehicle parts companies FleetPride, TruckPro merge

Deal Description: Irving-based FleetPride Inc. and Memphis-based TruckPro said on Oct. 28 that the companies have merged to create a national independent distributor and service provider to the heavy-duty aftermarket parts industry. Terms weren’t disclosed. The combined company will operate as FleetPride under the ownership of American Securities and Platinum Equity, led by Tom Greco, who joined the company as CEO in July. TruckPro President and CEO Chuck Broadus will continue to lead that business. FleetPride has over 450 locations, and more than 110 service centers with six distribution centers to serve customers across the U.S. and Canada. TruckPro has more than 145 locations and 11 distribution centers throughout the U.S. and Canada.

TruckPro financial advisor: Jefferies

TruckPro Outside Legal Counsel: Latham & Watkins

FleetPride Financial Advisor: Solomon Partners

American Securities/FleetPride Outside Legal Counsel: Weil, Gotshal & Manges

Weil Lawyers: Michael Lubowitz and Ryan Taylor as co-lead with Andrew Colao and Jacqueline Oveissi all in New York

BCP sells Gray Casualty & Surety to Palomar Holdings

Deal Description: BCP said on Oct. 30 that it agreed to sell The Gray Casualty & Surety Co., a surety bond provider for midsized and emerging contractors, to Palomar Holdings Inc. of La Jolla, Calif. Terms weren’t disclosed. BCP is a Baton Rouge, La.-based private equity firm focused on a services and infrastructure. Gray Casualty & Surety operates 13 regional offices and is licensed in all 50 states.

Palomar Financial Advisor: Evercore

Palomar Outside Legal Counsel: DLA Piper

Gray Surety Financial Advisor: J.P. Morgan

Gray Surety Outside Legal Counsel: Kirkland & Ellis

Kirkland Lawyers: Bill Benitez, Claire Campbell, Brennon Nelson, Saam Namazi, Mark Dundon and Jacob Walley all in Houston

Sullivan Brothers Family acquires disaster response company Cotton Holdings

Deal Description: Houston-based Cotton Holdings Inc. said Oct. 28 that it has been acquired by Sullivan Brothers Family of Companies, a Galveston provider of environmental remediation, disaster recovery, health, construction, infrastructure, and industrial services. Terms weren’t disclosed. Cotton, which was owned by Boca Raton, Fla.-based private equity firm Sun Capital Partners, provides infrastructure support services to the disaster response sector.

Sullivan Brothers Family of Companies Outside Legal Counsel: King & Spalding

King & Spalding Texas Lawyers: Jonathan Newton (Houston), Austin Paalz (Houston), Hannah Grayem (Houston)

Elsewhere: Sydney Jones Lampard (Washington, D.C.), Jake Downing (Chicago)

Incline Equity Partners invests in engagement management software company

Incline Equity Partners said Oct. 30 that it has invested in Advanced Solutions International, an engagement management software provider serving associations, trade unions and nonprofit customers from Alexandria, Va. Terms weren’t disclosed. The Pittsburgh private equity firm said ASI’s software is designed to help member-based associations manage and organize constituent data to record and optimize day-to-day workflows.

Incline Equity Outside Legal Counsel: Kirkland & Ellis

Kirkland Texas Lawyers: Bill Benitez (Houston), Brennon Nelson (Houston), Lucas Spivey (Houston), Chad Davis (Dallas), Christina Godard (Houston), Savannah Soto (Houston)

Elsewhere: Walt Holzer (Chicago), Luke Pinkston (Palo Alto), Roger Lucas (Chicago), Christopher Worek (Chicago), Lauren Lin (Chicago),

Capital Markets/Credit

Wabash Valley Resources gets $1.5B DOE loan for Indiana fertilizer facility

Deal Description: The Department of Energy announced on Oct. 28 that it closed a $1.5 billion loan to Wabash Valley Resources to finance a coal and ammonia fertilizer facility in West Terre Haute, Ind. The DOE said the project will restart and repurpose a coal gasification plant idled since 2016 to produce 500,000 metric tons of anhydrous ammonia per year by using coal from a nearby Southern Indiana mine and petcoke as feedstock.

DOE Loan Program Office Outside Legal Counsel: Baker Botts

Baker Botts Lead Lawyers: John Papaspanos (New York), Michael Yuffee (Washington, D.C.), Therese Detablan (New York) and Matthew Lee (Austin)

Wabash Valley Resources Outside Legal Counsel: White & Case

White & Case Lawyers: Peter Berg and Emily Pendleton in Houston; Nandan Nelivigi, Alfred Wang, Gabrielle Goodrow, Jessica Webb, Hsin-Yi Pan, Tunmise Omotoyinbo and Sebastian Cross all in New York; and Suzanne Perry, Jeffrey Davis, Michael Sykes, Jordan Jentz and Melissa Taylormoore in Washington, D.C.

Embraer Netherlands Finance prices $1B notes due 2038

Deal Description: Last week, Embraer Netherlands Finance BV priced $1 billion of its 5.4% notes due 2038. The Dutch unit of Brazilian aerospace company Embraer also bought back some 6.95% notes due 2028 and 7% notes due 2030 in an intermediated capped tender offer led by Morgan Stanley as dealer manager.

Underwriters Counsel: White & Case

White & Case Texas Lawyers: Chad McCormick (Houston), Thor Fielland (Houston)

Elsewhere: John Guzman (São Paulo), Beatriz Barros (São Paulo), Camilo Vasquez (São Paulo)

Cleveland-Cliffs Inc. sees proceeds of $964M from common share sale

Deal Description: On Oct. 30, Cleveland-Cliffs Inc. announced the pricing of an offering of 75 million common shares for gross proceeds of $964 million. The Northern Ohio steel company granted underwriters an over-allotment option to purchase an additional 11.25 million shares. Cleveland-Cliffs plans to use proceeds to repay its credit facility and general corporate purposes. The company’s NYSE-listed shares closed Friday at $12.43.

Underwriters: UBS Securities

Cleveland-Cliffs Outside Legal Counsel: Jones Day

Jones Day lawyers: Led by Mike Soleki (Cleveland) and Ferrell Keel (Dallas) Michael Solecki in Cleveland and Malory Thelen, Paige Alderink, Terrence Wicks — all in Dallas

Textron Inc. prices $500M notes due 2036

Deal Description: On Oct. 28, Textron Inc. priced $500 million of its 4.95% notes due 2036. The Providence, R.I., aircraft and defense manufacturer plans to use proceeds to repay notes due next year and general corporate purposes.

Underwriters: Goldman Sachs, JPMorgan and Wells Fargo (joint book-running managers)

Textron Outside Legal Counsel: Bracewell

Bracewell Lawyers: Todd W. Eckland (New York), Peter W. Rogers (Dallas) and Stephen C. McNamara (New York)

Cayman Islands SPAC Dynamix Corp. prices IPO for proceeds of $201.3M

Deal Description: Dynamix Corp. said on Oct. 29 that its initial public offering of 17.5 million units priced at $10 per unit and have begun listing on Nasdaq under the symbol “DNMXU.”  The Cayman Islands special purpose acquisition company said each unit includes one common share and one-half of one warrant. A whole warrant allows the holder to buy one common share at $11.50 each. The company, which granted underwriters an over-allotment option to purchase up to 2.625 million units, expects proceeds of about $201.25 million.

Underwriters: Cohen & Company Capital Markets (lead book-running manager) and Clear Street (co-manager)

Dynamix Outside Legal Counsel: Gibson Dunn

Gibson Dunn Lawyers: Gerry Spedale (Houston), Evan D’Amico (Washington, D.C.), Marie Kwon (New York), Allan Jeanjaquet (Houston)

Perpetua Resources nets $333.1M from public offering, private placement, investments

Deal Description: Perpetua Resources Corp. announced on Oct. 28 the pricing of more than 2.9 million shares for $24.25 each for expected proceeds of nearly $71.3 million. The company also said Agnico Eagle Mines Limited will exercise its right for a private placement in conjunction with the public offering that results in the sale of another 280,415 common shares for $6.8 million. The company plans to use proceeds to fund the construction and development of the Stibnite Gold Project, continuing exploration and development, restoration and reclamation work, and general corporate purposes. Perpetua also announced that it received equity investments of $180 million from Agnico Eagle Mines and $75 million from JPMorganChase to further finance the Stibnite Gold Project. Perpetua Resources is focused on the exploration, site restoration, and redevelopment of gold-antimony-silver deposits in central Idaho.

Underwriters: BMO Capital Markets, National Bank of Canada Capital Markets and RBC Capital Markets (joint book-running managers)

Perpetua Resources Outside Legal Counsel: Hunton Andrews Kurth 

HuntonAK Lead Lawyers: Joanna Enns in Dallas and Phil Haines in Houston

Other Texas Lawyers: Kaitlyn Thorson (Houston), Field Daniel (Houston), Mary Corinne Archer (Houston), Will Freeman (Dallas) 

Elsewhere: Fatima Anjum (New York)

Late Arrivals and Other Matters …

On Oct. 27, Keurig Dr Pepper said it closed two investment agreements totaling $7 billion related to its acquisition of JDE Peet’s. The Plano beverage company said the investments were led by Apollo Global Management Inc.  and KKR and include $4 billion for the new K-Cup and single-serve manufacturing joint venture that was also funded by Goldman Sachs Alternatives, as well as $3 billion in what will become the new Keuring Dr Pepper Beverage Co. Apollo received outside counsel from Latham & Watkins on the joint venture led by New York partners Javier Stark, Chirag Dedania, and Gary Boss, with Houston partner Christine Mainguy the only Texas lawyer on the Latham team.