Thanks to continuing consolidation of the midstream sector, deals last week hit a high mark for the year at $20.4 billion spread over 15 transactions worked by 63 Texas lawyers.
A lot of the action happened around oil and gas pipelines given rising production and possible takeaway restraints around certain parts of the country, including acquisitions and joint ventures.
The first week of May saw asset sales, an initial public offering and joint ventures in the energy industry along with mergers in the coal and banking sectors. There also were joint ventures announced by companies big and small and the formation of a new private equity fund.
There weren’t as many deals this week as last week, but they amounted to a whole lot more and involved a lot more Texas lawyers, with mergers and big asset purchases among the highlights.
Dealmaking picked up for Texas lawyers this past week, with 12 transactions announced worth $5.3 billion, triple the previous week’s activity when there were nine deals worth $1.8 billion.
Deal activity involving Texas lawyers continued to slide this past week, with only nine transactions worth $1.8 billion announced versus 11 deals worth $2.5 billion the previous week.
Stock and trade jitters may have been behind it, but last week’s transactional activity was…limp. Eleven deals, eight firms and 32 lawyers firmed up $2.5 billion worth of business. Along with the names and numbers, Claire Poole shares her insights on the deals in ,em>The Texas Lawbook.
Corp. Deal Tracker Weekly Round-Up: 11 Firms and 121 TX Lawyers Advise on 15 Deals worth $13.4 billion
Clearly, spring recess is over. Texas dealmakers were back to work last week, loading 15 deals worth $13.4 billion into their holiday baskets. The Big Deal of the week was the Concho Resources $9.5 billion purchase of RSP Permian. But there were others of interest. Claire Poole has the numbers and names behind the deals in The Texas Lawbook.
Claire Poole left for vacation after writing most of last week’s roundup, and it appears Texas’s deal attorneys followed her. Texas lawyers advised on nine deals worth $4 billion, which was a 44 percent drop in dealflow from the previous week. Some firms still formed some biggies, though. Details here.
Dealmaking in 2017 was confounding: deals were up, but values were down. The deal count hit 735, but total reported value dropped below $400 billion. There are lots of reasons, of course. But maybe the best explanation is the market itself. Claire Poole sums up the year based on the 2017 annual Corporate Deal Tracker tallies exclusively in The Texas Lawbook.