EVgo, a Los Angeles-based electric vehicle charging outfit that opened its first-ever station in Texas in 2011, is set to go public through a merger with New York-listed blank-check firm Climate Change Crisis Real Impact I Acquisition. Proceeds from the deal will fund the company’s ambitious expansion plans.
Texas M&A: A Bottom-Heavy Market…For Now
When you’re looking at Mergermarket stats on deals by Texas companies or Corporate Deal Tracker stats on deals handled by Texas lawyers, 2020 looks pretty much the same: more than two-thirds of last year’s deals were worth less than $500 million.
Caroline Evans explains the significance of that fact.
CDT Roundup: 17 Deals, 13 Firms, 138 Lawyers, $6.8B
So, we have a new president, one who has telegraphed his intentions regarding hydrocarbons. Decarbonization is going to be a big deal. The Keystone XL pipeline apparently isn’t. Not only does it mark a break with the past, it may mark the point at which we recognized that lots of energy dollars had already moved on. In the CDT Roundup Caroline Evans explains.
M&A 2020 Rankings: Mergermarket Names the Top 50 Law Firms
For six of the past seven years, three law firms consistently rank as doing the most M&A deals in Texas. That did not change in 2020 – though all three saw a decline in deal activity. Only eight of the top 50 law firms involved in Texas dealmaking are Texas-based. Overall, M&A work declined for 27 of the top 50 firms and increased for only 19. The Texas Lawbook has the details.
Blackstone Deal Reunites Former Colleagues
The recent Blackstone investment in Dallas-based software provider ISN was satisfying to Bell Nunnally partner Larry Shosid. But maybe the most personally satisfying aspect of the deal was a chance to work with a former colleague: ISN general counsel Jim Skochdopole. Caroline Evans has the details.
CDT Roundup: 22 Deals, 14 Firms, 135 Lawyers, $6.8B
No getting around it: The nation remains on guard, with the potential for disturbances at all 50 statehouses this weekend. It is a time, says Caroline Evans, for personal reflection, even as the corporate world has already moved to act. Last week’s deals and more in the CDT Roundup.
Two New Fortress Deals for $2.1B Are Part of LNG Gas-To-Power Play
In addition to its $2.2 billion purchase of Hygo Energy Transition, New Fortress will also take over Golar’s master limited partnership Golar LNG Partners in a cash deal with an enterprise value of $1.9 billion and an equity value of $251 million. Caroline Evans names the lawyers examines the strategy behind the two deals.
Latham, Kirkland Advise on $1.6 Billion Electric Vehicle ArcLight SPAC Deal
Proterra, a California-based EV manufacturing company, announced Tuesday that it is going public through a merger with an Arclight SPAC. Lots of Texas lawyers were involved. Caroline Evans has all the details and all the names.
2020: Worst Year for Texas M&A Since 2011
What started out as a good year became a bad year but became a good year again. Mergermarket has the numbers, The Lawbook’s Caroline Evans has the details.
Texas Pacific Land Trust Converts to Delaware Model
An iconic Texas landowner with origins as the developer of an uncompleted transcontinental railroad has reorganized as a Delaware corporation. The move settles a longstanding proxy fight over governance of one of the largest land holdings in Texas. Caroline Evans has the names of the lawyers involved.