National Fuel Buys CenterPoint Ohio Natural Gas Operations for $2.62B
Texas lawyers from Jones Day and Gibson Dunn advised the parties in CenterPoint's sale of a local distribution network that consumes 60 billion cf of natural gas each year.
Erin Hopkins: Another Veteran Paul Hastings Hire
Erin Hopkins, a veteran energy transactions partner at Baker Botts, is moving to the Houston office of Paul Hastings, his new law firm announced Tuesday. Hopkins brings with him 15 years of experience in energy and renewables transactions.
What Corporate Lawyers Need to Know About Recent Changes to Texas Law
Texas has made bold moves in its efforts to attract corporations by implementing one of the most sweeping sets of reforms to its corporate law. The Texas Business Organizations Code positions the Lone Star State as an increasingly attractive option for the state of incorporation. This article highlights the key points that corporate lawyers need to know about recent changes to the TBOC.
CMC Acquires Foley Products for $1.84B
Commercial Metals Co. said Thursday that it agreed to acquire Foley Products Co. for $1.84 billion in cash. Based outside Atlanta, Foley provides precast concrete and pipe products primarily in the Southeast, operating 18 facilities in nine states. The company’s products are used in drainage, water management, dry utility, and road construction across residential, non-residential and infrastructure sectors.
BlackRock-Led AI Group Strikes Deal for Aligned Data Centers
The Artificial Intelligence Infrastructure Partnership — the consortium founded about a year ago by BlackRock, Abu Dhabi-based MGX, Microsoft and NVIDIA to expand capacity of AI infrastructure — announced on Oct. 15 the acquisition of Aligned Data Centers from funds managed by Australia’s Macquarie Asset Management.
The companies said the deal, which values Plano-based Aligned Data Centers at $40 billion, will fuel the expansion of next-generation cloud and AI infrastructure.
Sterlington, Latham & Watkins and Kirkland & Ellis advised on the deal.
CDT Roundup: A Bank Merger Leads the Way
The week that ended Oct. 11 saw 14 deals reported with a total value of $17.4 billion, nearly two-thirds of which was attributable to Fifth Third Bancorp acquiring Comerica in a stock swap valued at $10.9 billion. It was a bit of a drop-off from the 21 deals valued at $20.8 billion for the week prior and less in volume but better in value than the 22 deals valued at $8.4 billion this time last year.
That and more in this week's CDT Roundup.
ARM Announces $2.3B FID on Mustang Express Pipeline
Vinson & Elkins advised ARM Energy Holdings on the decision, which will link Texas gas fields with Sempra's Port Arthur LNG Phase 2 project on the Texas Gulf Coast.
Fifth Third Buying Dallas-based Comerica in $10.9B Deal
Wachtell and Sullivan & Cromwell advised on the deal, which positions Fifth Third as a major presence in 17 of the fastest-growing banking markets in the country.
CDT Roundup: From Solar to Chemicals to LNG, Energy Powers $20.8B Week
The week that ended Oct. 4 saw 21 deals reported with a total value of $20.8 billion with a few billion-dollar transactions, including one that may be the final deal for the Oracle of Omaha. Elsewhere, Texas bank consolidations continue as Prosperity Bank acquires Texas Partners to expand further into San Antonio, Austin and The Hill Country.
That and more in this edition of CDT Roundup.
Norton Rose Hires Veteran Finance Partner from Winston & Strawn
Norton Rose Fulbright announced on Thursday that it has expanded its business practice group by hiring veteran Dallas corporate finance partner Chip Gage. With more than 30 years of experience representing private equity sponsors and their portfolio companies, he joins Norton Rose after spending nearly nine years at Winston & Strawn.
Berkshire Hathaway to Buy OxyChem from Occidental for $9.7B in All-cash Deal
Occidental announced the $9.7 billion sale of its chemical unit OxyChem to Berkshire Hathaway, potentially Warren Buffett’s final major deal. The move follows Occidental’s $12 billion CrownRock acquisition and is aimed at cutting debt. Cravath advised Occidental, while Berkshire Hathaway was advised by Kirkland & Ellis.
Fermi America’s $683M IPO Debuts in U.S. and London (Almost) Simultaneously
The Texas-based company is building one of the largest AI data centers on the planet. Meet the Haynes Boone lawyers who advised on the offering, which values the company at more than $13 billion.
