If anything defines the last few years in Texas M&A, it’s energy consolidation. Big bucks are being dropped to own bigger chunks of the Permian, Gulf Coast LNG production and all the pipeline in between. But the emergence of AI is driving a powerful new influence in the form of digital infrastructure, a sector heavy on the need for energy and real estate — both found in abundance in Texas. The CDT Roundup chatted with Simpson partners Breen Haire and Matt Einbinder on ways in which AI is changing their M&A practice, and it’s not what you might think. That, and the usual Roundup breakdown of last week’s Texas-related transactions.
Arcosa Expands into NY-NJ with $1.2B Acquisition
Kirkland advised Arcosa on their purchase of the aggregates and building materials businesses of Stavola Holding Corp. The transaction, largest in the company’s history, was paired with the divestiture of a steel components business.
CDT Roundup: 19 Deals, 21 Firms, 271 Lawyers, $16.4B
The rise of the U.S. global LNG export sector is a remarkable one: from essentially zero in 2015 to a position of global leadership in less than a decade. The Texas-Louisiana-Mississippi Gulf Coast has transformed into an epicenter for super-chilled natural gas bound for Europe and Asia. The CDT Roundup this week takes a closer look at a couple of news items that suggest the short-term future could be a bit bumpier than expected. And, as always, there were deals reported last week. We have the firms and the lawyers behind them.
Vital, NOG buy assets owned by Vortus-backed Point for $1.1B
Gibson Dunn advised Vital on the deal while Akin assisted Point and Vortus. Kirkland counseled NOG, its second joint acquisition with Vital in the Delaware Basin.
Casey’s to Acquire CEFCO Convenience Stores in $1.45B Deal
The all-cash transaction adds 148 stores in Texas and another 50 across Mississippi, Florida and Alabama. Paul Weiss, Cleary Gottlieb and Fort Worth’s Bourland, Wall & Wenzel advised.