The bulge-bracket banks that normally rank at the top of the financial adviser league tables nationally are getting some new and fierce competition in the Lone Star State. The Texas Lawbook has exclusive Mergermarket data with the top 30 financial advisers involved in Texas-based M&A.
Reata Pharmaceuticals Taps V&E for Public Offering
Reata Pharmaceuticals CLO Mike Wortley has turned to his old law firm, Vinson & Elkins, as its legal adviser handling its underwritten public offering of 3.25 million shares, which is expected to raise more than $100 million for the Irving company.
Baker Botts, Vinson & Elkins Advise on QEP Transaction That Was in Doubt
Some thought QEP’s $740 million divestiture deal might not happen. But lawyers in Dallas, Houston and Austin saw it through. Details are in The Texas Lawbook.
Mergermarket Law Firm H1 2017 M&A Rankings: V&E, Kirkland, Latham – and a lot of Non-Texas Firms
The Texas Lawbook has exclusive new Mergermarket M&A data on the law firms doing the most deals for Texas companies during the first half of 2017. Twenty-three of the top 30 law firms advised on more transactions than they did one year earlier. Four law firms did fewer deals than they did in H1 2016. Eight firms doubled the number of transactions they handled and 21 of the 30 firms doing the most deals are based outside of Texas. The Lawbook has all the details.
Gibson Dunn, Jones Day Advise on $170M Propane Deal
Houston-based American Midstream Partners said Monday that it will sell its propane marketing and services business to Netherlands-based SHV Energy NV for $170 million in cash.
Baker Botts, Locke Lord Advise on $450M Quanta-Stronghold Deal
A cluster of Houston-based lawyers from Baker Botts and Locke Lord said Friday that they closed Quanta Services’ $450 million acquisition of Stronghold Specialty, a La Porte-based services provider for clients in the refining and petrochemical industries.
Houston attorneys from Kirkland, Bracewell Counsel on $5.3B Hydro One-Avista Combo
Several Texas attorneys were involved in the big utility merger announced late Wednesday in which Canada’s Hydro One Ltd. is acquiring Avista Corp. of Spokane, Wash., for $5.3 billion. The Lawbook has the details on legal teams and an analyst’s outlook on the deal going through.
V&E Works on TPG Affiliate’s $220M IPO
New York-based TPG RE Finance Trust, a REIT (real estate investment trust), said Monday evening that it priced its IPO at $220 million. The company is offering 11 million shares of common stock at $20 per share. It began trading today on the New York Stock Exchange under the ticker, “TRTX.”
Baker Botts, V&E and Gibson Dunn Advise on $1.3B Select-Rockwater Merger
Under the agreement, Select will issue 37.95 million shares of common stock in exchange for all outstanding shares of Rockwater common stock. The Texas Lawbook has the details on the deal teams, the firms’ history with the companies, and info on both GCs here.
Mergermarket Expert: TX M&A Market in ‘Real Danger of Developing Congestion or Heartburn’
The Texas market has seen 15 consecutive quarters with about 200 or more deals. “Before the third quarter of 2013, 200 deals was the high water mark. Since then, 200 deals has been the floor,” says Mergermarket M&A analyst Chad Watt. “We’ve had so many deals completed [during the past couple years] that the market may need a period to digest it all. “There’s a real danger of developing M&A congestion or heartburn.”