Russia took the world by surprise three weeks ago by refusing to limit its oil production in the interest of supporting prices. Saudi Arabia responded by increasing production to record levels, driving down oil prices. This article examines whether the seeds for Russia’s sudden move were planted by the Trump administration’s expansive use of economic sanctions or even Iran’s attack on Saudi oilfields.
Exclusive data collected by The Texas Lawbook’s Corporate Deal Tracker shows that transactions handled by lawyers in the state dropped by a quarter on a volume and value basis last year, thanks to the unpopular oil and gas sector. And 2020 is expected to be much worse given the coronavirus, uncertainty in the financial markets and low oil prices.
Simpson Thacher picks up a former Blackstone managing director while a Texas utility brings on a Kirkland associate as general counsel.
Two big transactions involving Texas lawyers helped move the value needle last week, despite shaky-looking deals in the rest of the M&A world thanks to the coronavirus.
If a Texas lawyer works on an M&A transaction, The Texas Lawbook’s exclusive Corporate Deal Tracker database documents it. Today, The Lawbook has published our master list of all non-confidential transactions from 2019. The Corporate Deal Tracker lists the lawyers and law firms who represented the buyers and sellers in all 303 transactions.
If a Texas lawyer worked on a corporate transaction – even if the deal involves non-Texas clients – The Texas Lawbook documents it as part of its Corporate Deal Tracker. Today, the CDT publishes its master list of non-confidential mergers and acquisitions for 2019. The M&A non-confidential database features 303 transactions and the lawyers who worked on them.
Dealmaking among Texas lawyers was way down this past week, thanks to the spreading coronavirus and sliding oil prices. But transactions were already sickly even before the recent COVID-19 fears. Claire Poole explains.
Ryan Cox was co-head of Haynes and Boone’s capital markets and securities practice while Eric Williams was chief of its M&A practice.
As the markets tumbled this week, The Lawbook’s Claire Poole began polling M&A experts for their take on what the future might hold. Their view was stark for the short term, cautious in the long term and instructive on the lessons that might be learned.
It was a semi-busy deal week last week for Texas lawyers. But Monday’s stock market collapse – the biggest since the 2008 financial crisis – could be a transaction killer until a clear recovery is underway.