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.
CDT Roundup: 15 Deals, 14 Firms, 193 Lawyers, $20.6B
For the first time in a while, energy didn't dominate the week for value. Still, energy deals dominated the deal count among the 12 M&A transactions reported. This comes as the Haynes Boone financing survey shows increasing interest in financing new upstream E&P. Claire Poole's CDT Roundup has more, along with the names and firms of the 186 lawyers who worked on last week's transactions.
Two Billion-Dollar-Plus Energy Deals Announced with V&E Involved
Riverstone-backed Hammerhead Energy agreed to be sold to Crescent Point Energy for $1.86 billion and Enbridge purchased landfill gas-to-renewable natural gas facilities in the U.S. from Morrow Renewables for $1.2 billion.
Six Flags Merges with Cedar Fair in $8B Deal
Weil in New York counseled Cedar Fair while Kirkland did so for Six Flags, including an M&A partner in Austin and a debt partner in Houston.
CDT Roundup: 18 Deals, 18 Firms, 152 Lawyers, $68.4B
What a difference a quarter makes. Even as deal numbers for the third quarter continue to numb, some really big deals are beginning to unfold in the fourth — particularly in the energy sector — with two $60 billion whoppers in the past three weeks. But a recent analysis by Pitchbook suggests that they are only the beginning. With an estimated global total of $1.4 trillion in dry powder available, dealmakers who have been eyeing market variables may be ready to pounce. This week's CDT Roundup looks the possibility of a coming breakout, along with the usual roster of lawyers and firms who reported $68 billion over 18 different deals.
CDT Roundup: 16 Deals, 13 Firms, 165 Lawyers, $6.8B
This week's transactions include two take-private deals. According to studies by Bloomberg and White & Case, turmoil across the equity capital markets is making such deals attractive, with more companies being taken private so far this year than traditional public offerings. In the 18 months from January 2022 through June 2023, there were 47 P2P transactions in the U.S. versus 39 IPOs. And the P2P pace for 2023 may be even quicker. Claire Poole has the specifics, along with the usual roundup of deals and dealmakers for the week.
Texas Attorneys for Chevron Co-Lead on $60B Acquisition of Hess
A pair of in-house attorneys for Chevron in Texas is co-leading on the company’s purchase of New York-based Hess Corp. for $60 billion, including debt. Paul Weiss is serving as outside counsel to Chevron, while Wachtell Lipton advised Hess.
Canadian Marine Logistics Provider Logistec to Go Private in Deal with Blue Wolf, Stonepeak
Blue Wolf Capital and Stonepeak announced Monday that they are acquiring the Canada-based shipping specialists Logistec in an all-cash deal that values the company at $1.2 billion. Sidley advised Stonepeak on the transaction.
