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Despite the malaise in the oilfield services sector, which has put the kibosh on M&A, boutique investment bank PPHB is still managing to eke out deals. Co-founder Joe Hoepfl talked with The Texas Lawbook about the state of the market and his outlook for next year.
Texas business leaders are bullish on dealmaking for next year, with technology front-of-mind on the diligence front, plus a transaction rush by Texas lawyers before year-end. Claire Poole explains.
Analysts say the deal is attractive for WPX compared with other recent transactions in the consolidating oil patch and may lead to asset sales to help with financing.
The deal increases the buyer's presence in Dallas, which is considered one of the country’s most desirable luxury car markets, with Texas becoming 36% of its sales.
There have been 11,013 M&A transactions in Texas during the past 13 years with a combined value of $3.4 trillion. Mergermarket and The Texas Lawbook examined which law firms did most of the biggest deals. Only five of the top 30 firms are based in Texas. Four of the top 10 firms do not have an office in the state.
Energy service and equipment deals are sagging, much like the rest of the sector, with strategic companies the most active acquirers and private equity buyers remaining focused on transactions with diversified exposure across the value chain. Claire Poole explores that plus the continued slide in deal activity by Texas lawyers.
Texas Capital GC Kelly Rentzel chose Sullivan & Cromwell to lead its side of the transaction, while Independent GC Mark Haynie selected Wachtell Lipton. The Texas Lawbook has the details.
Private equity investment is down this year in Texas, and oil and gas have been particularly affected, according to exclusive data provided to The Texas Lawbook by Mergermarket. How low? Claire Poole has an analysis.
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