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Corporate Deal Tracker
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CDT SNAPSHOT
11.7%
Nationwide, middle-market revenue rose 11.7 percent year-over-year in 2025, with 85 percent of companies growing and 53 percent achieving 10 percent-plus growth, according to an Ohio State University report.
CDT DATABASE YEAR-TO-DATE TRANSACTION TOTALS
MAR. 22, 2026
DEAL COUNT
94
DEAL VALUE
$415.5B
MAR. 22, 2025
DEAL COUNT
408
DEAL VALUE
$269.4B

CDT Roundup: LNG Assets, SPAC IPOs and Plans to Build the World’s Largest AI Factory

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.

Jason Philyaw

How Gusinsky Helps Pave the Way to Y’all Street

On March 17, the United States District Court for the Northern District of Texas dismissed Gusinsky v. Reynolds, applying and upholding the reforms to the Texas Business Organizations Code introduced in 2025 by Senate Bill 29. The opinion confirms that the Texas legal reforms associated with Y’all Street are working and should help corporations and their boards feel confident that these new statutory tools will withstand judicial scrutiny.

Chris Babcock

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CDT Roundup: Thirteen Deals, One Theme? Energy Still Rules

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.

Jason Philyaw

Gibson Dunn Advises Exxon As Energy Giant Looks To Reincorporate in Texas

ExxonMobil announced Tuesday that its board seeks shareholder approval to change the company’s legal permanent home to Texas from New Jersey.

Gibson Dunn advised the company with a team led by Houston partners Gerry Spedale, Hillary Holmes and Tull Florey, as well as Washington, D.C., partner Ronald Mueller. Jeff Taylor is Exxon's general counsel.

Jason Philyaw

Shell Sells Jiffy Lube to PE Firm for $1.3B

Pennzoil Quaker State, the lubricants business of Shell USA, announced Monday an agreement to sell Jiffy Lube International to an affiliate of middle-market private equity firm Monomoy Capital Partners for $1.3 billion. Kirkland & Ellis provided counsel to Monomoy. Travis Torrence is head of legal for Shell USA.

Jason Philyaw

AI Arms Race, Digital Infrastructure Revolution, Middle Market Producing M&A Super Cycle

The rapid expansion of AI is creating a “super cycle” in data centers, combining headline megadeals with a powerful but less visible middle‑market M&A surge in specialized infrastructure and services. Investors are racing to build and acquire hyperscale facilities, while private equity sponsors increasingly target mission‑critical providers in areas such as cooling, electrical, HVAC, plumbing and more to keep data centers humming around the clock. Legal advisors and their financial counterparts report increasingly sophisticated deal structures (and widely available capital) to support expansion and acquisitions.

Jason Philyaw

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