As GE’s executive counsel for M&A, Houston lawyer Victoria Lazar quietly led the $23 billion integration of the legal departments for the merger of GE Oil & Gas and Baker Hughes. She is now heavily involved in GE’s efforts to reposition its corporate portfolio. In an exclusive Texas Lawbook interview, Lazar discusses her Romanian-Jewish family, her extraordinary legal career and big-time dealmaking.
In a recent decision, the Delaware Chancery Court broke new ground when it allowed a buyer to back out of a deal by invoking the acquisition agreement’s material adverse effect clause. Michael Blankenship and Whit Roberts of Locke Lord explore how this case might impact businesses in Texas.
With a new year barreling in, what do we expect of 2019? Well, maybe a slow start, at least in IPOs. New issues are likely down for 2018, and though their value is up, that might not continue. Still, in a slow starting season there are a few issues that may hit the market soon. The Lawbook’s Claire Poole has the names and numbers in her weekly CDT Roundup
Middle market M&A has been eroding across the nation, and even in the otherwise thriving Texas market Texas-headquartered firms will likely finish 2018 with less than 200 mid-range transactions for the first time since the Great Recession. Click here for an expanded chart of how law firms stack up by deal count in the mid-market so far this year.
Healthcare-centered private equity is on the brink of another record year. According to newly released data from Preqin, 585 healthcare-related deals had been announced through November worth $56 billion. The Lawbook’s Claire Poole explains how Texas dealmakers fit into the picture, along with her weekly assessment of Texas deals.
Fourth quarter mergers and acquisitions involving middle and lower middle market Texas businesses have hit an unexpected low. Texas lawyers say their businesses are currently thriving, but the drop shouldn’t necessarily be ignored. Claire Poole and Mark Curriden have their insights on a perplexing end for 2018.
The energy sector is, and probably always will be, the leader in deals made in Texas. But don’t forget about technology. Tech is the third largest business sector for deals in Texas, and its influence is growing. The Lawbook’s Claire Poole has the tech deal numbers along with last week’s overall dealmaking.
Irving-based Nexstar Media Group Inc. will become the largest owner of local TV stations in the U.S. after its $6.4 billion acquisition of Tribune Media Co. announced Monday. The Lawbook’s Claire Poole discussed the deal with Nexstar GC Elizabeth Ryder who led the transaction.
Skyview is a Los Angeles-based private equity firm that recently opened a new office in Dallas, one of several PE firms that have set up shop in Texas. The Lawbook’s Claire Poole had a chance to chat with Darryl Smith, who heads the new Texas outpost, about the company’s market outlook and what their presence might mean for lawyers in the Lone Star State.
Heading into the thick of the holiday season, as well as the year’s end, two separate trends may be emerging: first, middle market deals are beginning to thin; second, PE is gaining influence fast enough to account for half the M&A market in the next five years. The Lawbook’s Claire Poole explains in her weekly Corporate Deal Tracker Roundup.