TG Natural Resources Acquires Rockcliff Energy II for $2.7B
Lawyers from Vinson & Elkins and Kirkland & Ellis advised on the transaction which further consolidates gas production feeding the LNG terminals along the Gulf Coast of Texas and Louisiana.
CDT Roundup: 26 Deals, 17 Firms, 244 Lawyers, $14.6B
It's not that unusual, particularly in these days of energy consolidation, to have three billion-dollar deals. But this week saw three billion-dollar deals in three completely different business sectors: pharma, airlines and clean energy. The Roundup takes a look at the whys behind those deals, along with a huge menu of 26 deals, including 10 capital markets transactions (one of which was a very rare IPO and none of which involved Shohei Ohtani). And, of course, the names of the 244 lawyers who worked on them.
V&E and Latham Advise on Oxy’s $12B Acquisition of CrownRock
Oxy's acquisition of the Midland-based independent, which includes the assumption of $1.2 billion in CrownRock debt, further consolidates Oxy's prime perch in the productive Permian Basin. The Lawbook has the names of all 72 lawyers involved in the deal.
CDT Roundup: 13 Deals, 9 Firms, 57 Lawyers, $6.7B
Last week's announcement of a new joint venture between Sentinel Midstream and ExxonMobil connecting Louisiana pipelines marked more than another O&G consolidation. It was another deal to be tallied in what has been a remarkable year for Willkie Farr & Gallagher's Houston partner, Archie Fallon. As we head into the final month of 2023, the CDT Roundup looks at his major deals on the year, along with those of the 57 mostly Texas lawyers who reported transactions for the week following the Thanksgiving holiday.
Simpson Aids KKR on Buying Rest of Global Atlantic for $2.7B
The Simpson team was co-led by partner Christopher May in Houston. KKR already served as Global Atlantic’s asset manager for the last three years, offering access to its global investment and origination capabilities for the benefit of GA’s policyholders.
CDT Roundup: 9 Deals, 9 Firms, 131 Lawyers, $4.8B
BlackRock is a dirty name, at least among some Texas legislators, for its vigorous investments in energy transition. But it is also the world's largest asset manager with $9.42 trillion under management. This week's CDT Roundup looks at BlackRock and the law firms whose Texas offices often count BlackRock as a client. That, along with the Texas lawyers and firms behind the nine deals reported during the holiday-shortened week.
M&A/CapM Partner Leaves Sidley for Locke Lord
Houston deal lawyer Jon Daly has counseled a range of clients so far this year, including Intrepid Partners, Blue Ocean Acquisition Corp. and Sunoco on M&A and Western Midstream Partners and JP Morgan on capital markets.
CDT Roundup: 22 Deals, 17 Firms, 184 Lawyers, $6.6B
Sometimes the biggest deal of the week tells us something beyond just its value. Last week, the last full week before Thanksgiving, the deal with the largest reported value involved healthcare. And according to the consulting firm Kaufman Hall, the $2.4 billion sale of three hospitals by Texas healthcare giant Tenet Healthcare is part of a resurgence of M&A in the medical space. This week's CDT Roundup focuses on that uptick, as well as the usual roll call of Texas firms and lawyers who reported deals as the holiday season approaches.
UPDATE – CDT M&A Lead Law Firms: Kirkland, Latham, V&E, Sidley, Gibson Dunn (As of Oct. 31)
The Texas Lawbook's exclusive Corporate Deal Tracker lists the law firms whose Texas lawyers were lead counsel in M&A transactions for the buyers, sellers and targets between Jan. 1 and Oct. 31 this year. Sixteen of them led 10 deals or more, six were lead counsel on 25 or more transactions, two firms led 50 or more deals and one firm’s Texas lawyers have been lead counsel on more than 100 M&A transactions during the first 10 months of 2023.
CDT Law Firm Rankings 2023 (as of Oct. 31)
Texas lawyers for Kirkland & Ellis officially crossed the 100-deal count threshold and the $100 billion deal value mark in October, according to exclusive new Texas Lawbook Corporate Deal Tracker
CDT Roundup: 15 Deals, 13 Firms, 179 Lawyers, $9.8B
A recent Mergermarket survey of top global private equity executives yielded few surprises concerning the once and future deal environment. The survey, conducted on behalf of Dechert, revealed that more than a quarter of respondents cited interest rates as the most important factor in determining deal development in the next 12 months. Among the few surprises, however, was the overwhelming and newly found attraction to take-private deals. The Roundup looks at the data, as well as the firms and lawyers behind 15 Texas-related transactions reported last week.
Kinder Morgan Buys STX Midstream from NextEra for $1.8B
Locke Lord's Kevin Peter counseled KMI and Hogan Lovells' Greg Hill represented NextEra on the sale of the pipeline system, with KMI viewed as the likely buyer.
