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Who are the leading law firms in global M&A? Not necessarily who you thought they were. This week's CDT Roundup features the top-ranked M&A firms in a recent PitchBook list for Q2. There's that, and the usual listing of Texas deals reported last week, led by three deals of more than $1 billion, including a $7.2 billion bolt-on acquisition by Energy Transfer.
Kirkland counseled the buyer and V&E advised the seller in what's being billed as creating a $14 billion oil and gas explorer and producer in the Delaware Basin.
H1 wasn't a kind environment for capital markets transactions. Saddled with lingering inflation, fed rate hikes, modest market volatility and the occasional bank failure, dealmakers relied on cash, credit and creativity for acquisitions. But with much of that flickering into the rear-view mirror, the stage may be set for a CapM comeback. The Lawbook has details.
Kirkland counseled the buyer and V&E the seller in a combination that analysts say makes strategic sense.
Of course, having noted the continued primacy of the energy industry in Texas dealmaking of late, we hit a week when there are none. Moreover, capital markets came roaring back last week with a dozen deals reported, the most reported for a single week in more than two years. Claire Poole takes a closer look at those deals and the lawyers behind them this week in the CDT Roundup.
Cody Carper, who focuses on complex energy and infrastructure transactions, has counseled Macpherson Energy, North Hudson Resources, Samson Energy, Contango Oil & Gas and Southwestern Energy on deals.
The Corporate Deal Tracker M&A rankings of law firms in Texas witnessed a shake up during the first six months of 2023. Last year, Texas lawyers at two firms each worked on 80 M&A deals. No firm worked on more than 66 during the same period this year. Seven firms handled 30 deals or more during H1 in 2022, but only three did it this year. Fifty-four law firms with attorneys in Texas reported M&A transactions during H1 and 17 of them worked on 10 or more deals. And 25 firms in Texas reported working on deals with combined values of $1 billion or more during H1 2023, up from 19 during the same period last year. The CDT top 10 has three new members. The top six also witnessed a shakeup.
In March and April, the market for M&A looked pretty thin. A few high-profile bank failures and strong employment figures fed worries about the future. That pessimism seems to have passed, according to Texas dealmakers consulted by the CDT Roundup. We have their forecasts for the coming months, as well as the usual listing of deals and dealmakers reporting last week.
The deal lawyer's departure follows that of tax expert Greg Nelson, who left last month as 11-year chair of Paul Hastings' Houston office for Gibson Dunn.
Weil partner James Griffin co-led a team from Weil representing Sovos Brands investor Advent International. The Lawbook has the details.
There were 395 Texas-related M&A deals during the first six months of the year. The biggest aren't always the most consequential; context matters. The Lawbook's Claire Poole asked a few Texas M&A experts to choose five from among them the 395 that seem most important to the current market.
According to a recent report by PitchBook, private equity deals are a mixed bag of late: deal count up a wisp from Q1; deal value down double-digits. Is that terrible? Maybe not. The Roundup looked at the numbers from PitchBook and there are a few surprises and maybe a little perspective; that, along with the usual run-down of the week's M&A deals.
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