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Corp. Deal Tracker/M&A

CDT Roundup: 11 Deals, 7 Firms, 144 Lawyers, $2.4B

The Dallas Fed each quarter surveys executives from six different business sectors. The Fed’s surveys for the third quarter were released last week. The CDT Roundup looks at the one on energy, which reveals a peculiar lack of enthusiasm for a sector rampant with M&A. That, and the usual review of the firms and lawyers behind last week’s modest number of transactions.

Amber Energy Acquires CITGO in Court-ordered Sale

A special master for a federal court in Delaware has named Amber Energy Inc. as its court-approved bidder for CITGO, one of the largest refiners and distributors of petroleum products in the U.S. The sale, which values Houston-based CITGO at $7.28 billion, is aimed at settling some of the $21.3 billion in claims against CITGO’s former owners, the state-controlled energy company of Venezuela.

Latham Enhances Project Development Practice in Houston

New Latham partner Jonathan Katz practiced for nearly a dozen years at King & Spalding. Houston office managing partner Nick Dhesi said Katz is highly regarded for his experience in crafting EPC contracts for energy and infrastructure projects.

CDT Roundup: 11 Deals, 10 Firms, 192 Lawyers, $9.6B

Since the record year of 2021, IPOs have been scarce by any standard. Even SPACs have been in decline. The two non-SPAC IPOs that reached the CDT Roundup last week hardly represent a bumper crop. But with 145 logged with the SEC so far this year, we may be on a pace for the most IPOs since 2021. The CDT Roundup takes a look at those two new IPOs and what they might tell us about the market in Texas and elsewhere — along with the usual summary of last week’s Texas transactional action.

CDT Roundup: 24 Deals, 12 Firms, 235 Lawyers, $11B

Private equity is back; particularly in middle market deals. Pitchbook says so in a report released last week. In their study of H1 data Pitchbook forecasts that middle market deal counts will reach 3,400 by the end of the year, with values of as much as $345 billion. That would make it the third-best year for middle market PE deals, ever. If you want particulars, look no further than this week’s CDT Roundup, in which 13 of last week’s 16 M&A/Funding deals involved some form of PE participation. The Roundup even has the names of the lawyers behind them.

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