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According to DrillingInfo, third quarter 2018 surged over the second with some of the highest U.S. gas and oil activity since late 2012. Get more insight and details of last week’s transactional activity in Claire Poole’s Corporate Deal Tracker Roundup in The Texas Lawbook.
Rowan Cos. of Houston and Ensco of London announced they would merge on Monday in an all-stock deal with an enterprise value of $12 billion, creating the largest offshore driller in the industry.
Chicago-based Katten Muchin Rosenman is once again expanding its North Texas presence by launching a healthcare practice and hiring two prominent healthcare partners away from competitors to lead it. The Texas Lawbook has the details.
This past week was a busy time for global M&A, with four major deals worth more than $51.6 billion announced over three days. One of those deals, a $6 billion transaction, had a Texas lawyer on the deal team. But although deal activity has achieved some highs in recent quarters, there are signs of global slowing.
Oil and gas may be headed for even brighter days, according to the most recent industry survey released Wednesday by Haynes and Boone.
The private equity business is getting more crowded, with more entities – like infrastructure firms and sovereign wealth funds – jumping in and a lot of capital – a high of $1.1 trillion raised – chasing opportunities.
The Lawbook’s Claire Poole had a chance to speak with Quantum president Dheeraj Verma, known as “D,” about the role of private equity in the current marketplace, and much more.
Canadian pipeline giant Enbridge announced Tuesday it was buying what it didn’t own of Enbridge Energy Partners and Enbridge Energy Management for $3.5 billion in stock. Texas lawyers from three firms were involved.
The transactions of the past week were generated in more varied sectors than the usual oil and gas industry. Rental, healthcare, tradeshow, food and real estate deals all made a showing – evidence that Texas is no one-trick pony.
The Woodlands-based chemicals and plastics distributor Nexeo Solutions announced Monday it had agreed to be purchased by Univar of Illinois for $2 billion, including debt.
Corporate Deal Tracker data also shows that the legal industry in Texas for the CapM practice is quickly evolving as the result of the heated lateral market, and that the rankings could be be vastly different during the second half of 2018.
By Claire Poole (Sept. 11) – Blame the four-day work week. While there were two energy-related transactions this past week above the $1 billion mark, there were only 13 deals
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