The recent decline in M&A activity in energy and especially in the previously redhot midstream sector has limited the viable exit opportunities for most sponsor-backed midstream oil, gas or water portfolio companies in the near term. But this temporary period creates an ideal environment for sponsors and management to take an introspective look at their portfolio companies and begin preparing for their eventual sale, once the oil and gas industry has recovered and the M&A market has stabilized.
CDT Roundup: 7 Deals, 8 Firms, 76 Lawyers, $5.3B
How hard has the coronavirus been on transactional activity from week to week? We decided to check the figures from March through July against the same time period during the two previous years. Here’s what we found.
Stephen Olson Vaults to Gibson Dunn
The UT Law School grad with a New York background and a strong PE client base, previously led the Houston office and Texas transactional practice at Jones Day.
Akin Gump Helps 7-Eleven Take Speedway for $21B
So much for low-cost M&A pickups at the bankruptcy court. Japanese-owned 7-Eleven bought 3,900 Speedway locations from Marathon Petroleum on Sunday for $21 billion. The Lawbook has the lawyers who made the deal happen.
Post-COVID M&A – A Braver, Newer World
The coronavirus is not only changing the way we live, it is having a noticeable impact on the way deals are getting done. BoyarMiller shareholder Larry Wilson and GulfStar managing director Colt Luedde take a look at how the COVID-19 pandemic is affecting the buying and selling of businesses and how it could continue to shape M&A in the future.
CDT Roundup: 9 Deals, 6 Firms, 67 Lawyers, $18.75B
It wasn’t the biggest week of the year, but Chevron’s $13 billion blockbuster buy of Noble Energy assured big value. But in the grand scheme of global energy values, the deal may suggest that better times are coming. Allen Pusey explains in this week’s Corporate Deal Tracker Roundup.