Baytex says the transaction nearly doubles both its EBITDA and free cash flow, allowing an immediate step-up in direct shareholder returns, including the introduction of a dividend and increased share buybacks. The Lawbook has the names of the lawyers involved.
CDT Roundup: 13 Deals, 14 Firms, 130 Lawyers, $5.4B
Regrouping is a powerful incentive for many M&A deals. This week’s Roundup looks at a couple at a couple of billion-dollar energy transactions that should have come as no surprise for that reason. Also, a quick look at the recent work of Stephen Noh, a former sports management major who now plies his eye for detail to million dollar deals at Kirkland. And, of course, there’s the usual roster of Texas lawyers who worked on last week’s reported transactions.
Chesapeake Sheds Eagle Ford Properties to Ineos for $1.4B
Haynes and Boone advised the Oklahoma company and Holland & Knight assisted the British chemical multinational, which marks its entrance as operator into the U.S. onshore oil and gas market.
CDT Roundup: 14 Deals, 12 Firms, 158 Lawyers, $5.7B
This week the CDT Roundup gives a tip of the hat to Winston & Strawn’s Mike Blankenship, who has begun the first two months of 2023 on fire in what has become a rare form transaction: the traditional IPO. More on that, as well as the week’s roundup of Texas-related transactions.
CDT Roundup: 16 Deals, 12 Firms, 137 Lawyers, $12.1B
Are IPOs on their way back? If the first few weeks of 2023 are any indication, the answer depends on your point of reference: Maybe. Or sort of. Or hope so. After a lackluster 2022 when markets were pestered by war, inflation and defensiveness, a new study by Fidelity Investments suggests a modest rebound may be on the horizon. The CDT Roundup looks at the stats, as well as the cast of lawyers and firms behind 16 deals reported last week.
Houston’s Energy-Transition Moment
Long the global energy capital, the city can help lead the world toward a carbon-neutral future. A recent report from the Houston Energy Transition Initiative identifies makes the case the city is poised to do so.
CDT Roundup: 17 Deals, 15 Law Firms, 140 Lawyers, $8.1B
Numbers for the week ending Feb. 4 were actually far better than the week prior, or even the same week a year ago. More on that, and a spot-check on what Simpson’s Chris May is up to in this week’s Corporate Deal Tracker Roundup.
New Texas Munis Were Down in 2022, But the Need Remains Durable
The slight drop in the number and value of new bond issues in Texas last year was more a reflection of the market than infrastructure needs in one of the fastest-growing states in the nation. The Lawbook’s Nushin Huq and Texas bond experts examine the year-that-was. She also has rankings for the firms behind the issues and underwriters for what was — in spite of the decline — a very busy year.
Atlas Technical Agrees to $1.05B Buyout by GI Partners
Kirkland counseled the Austin-based company, which provides infrastructure and environmental solutions to U.S. markets.
CDT Roundup: 7 Deals, 7 Firms, 75 Lawyers, $2.2B
At best, 2022 was a mixed year for upstream M&A across the U.S., according to Enverus Intelligence Research. The numbers looked big, $58 billion across 160 deals. But the reality is that they were down, particularly in deal count, even when compared to pre-pandemic averages. The CDT Roundup takes a look at a few companies whose deals defined and, in some ways, defied the market, as well as the law firms that are advising them. Of course, there is the usual roundup of last week’s transactions.