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Dallas-based Enhabit Inc. announced Monday that it agreed to be acquired by Kinderhook Industries, a middle market private equity firm, in a cash deal with a disclosed enterprise value of about $1.1 billion.
Jones Day and Kirkland & Ellis advised on the deal.
Latham and Kirkland advised on the deal, which helps pay down Ovintiv's debt from two recent purchases in Canada's Montney Shale, as well as their considerable holdings in the Permian Basin.
The acquisitions include one natural gas powered plant and two wind-driven generation facilities. The company said it signed contracts with data centers in late 2025 and early 2026 for 430MW of generated power. Latham & Watkins and Simpson Thacher advised the parties.
It didn't feel like it at the time, but 2025 turned out to be a blockbuster year for M&A lawyers in Texas. The Lone Star State may no longer be matching national trends in M&A; it could be surpassing them. A good year elsewhere was a great year in Texas, regardless of the small print. Put simply, there were more deals made for more money (lots more) than we anticipated, and The Texas Lawbook’s Corporate Deal Tracker has the exclusive details.
Privately held Seattle freight transportation, marine service and energy distribution conglomerate Saltchuk said Wednesday that it has agreed to acquire Houston-based Great Lakes Dredge & Dock Corp. for about $1.2 billion cash. Sidley Austin advised Great Lakes and its CLO Vivienne Schiffer, while Fried Frank represented Saltchuk.
Under the deal, Clear Channel, the world's largest out-of-home advertising company would stay in San Antonio, led by former TelevisaUnivision CEO Wade Davis. Kirkland and Freshfields advised.
Transocean announced Monday it has acquired Valaris Ltd. for about $5.8 billion in an all-stock transaction that creates an offshore drilling behemoth with 33 ultra-deepwater drillships, nine semisubmersibles and 31 modern jackups. Skadden advised Valaris with a team led by Eric Otness in Houston and Stephen Arcano and Max Troper in New York. Davor Vukadin is GC at Valaris, and Brady Long is Transocean's chief legal officer.
DLA Piper and A&O Shearman advised on the deal whose announcement triggered a run-up on Nasdaq for Silicon Labs stock.
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