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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 on the deal with a national team led by Robert Little in Dallas and George Sampas in New York.
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.
Ryan Gorsche and Katie Legband O’Brien, corporate M&A partners, have joined O’Melveny in Dallas from BakerHostetler, where they practiced in the firm’s mergers and acquisitions, private equity and venture capital groups. They will focus their practices on complex domestic and cross-border M&A transactions and private equity matters.
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.
Omar Samji, the Houston-based lawyer whose career in power and renewables spans more than two decades and six law firms, has left Weil for Gibson Dunn, the firm is announcing today.
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.
An Abu Dhabi investor announced late Tuesday that it is taking a stake in two major natural gas pipelines that operate across and between the Upper Midwest and Canada.
Weil is advising on the deal with a team led from Houston.
O’Melveny & Myers announced this week that veteran capital markets advisor Doug Lionberger has joined the firm from Holland & Knight — the sixth partner to lateral to the firm’s Houston office in the last two years.
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