This week’s numbers may hold a glimpse of a foreseeable future: one full of DIP lending, consolidation, reshuffled credit, renewable energy and re-securitized debt.
Kirkland-Dallas Involved In $2.65B Uber Acquisition of Postmates
Uber Technologies, which has sought to delay planned investments in Texas due to the COVID-19 pandemic, announced the acquisition of one of its home-delivery rivals. Allen Pusey has the details.
Kirkland and Latham Top Texas M&A Legal Advisors in H1 2020
The first six months of 2020 downright sucked for corporate M&A law firms. New Mergermarket data shows that 11 of the top 12 corporate practices did fewer transactions involving Texas-based businesses than they did the year before. For the first time in 13 years, no firm reported working on at least 30 Texas transactions. The Texas Lawbook has the law firm rankings.
M&A Hits Lowest Mark Since 2009
UPDATED: Texas-headquartered dealmaking has plummeted to historic levels in 2020. The second quarter had only 89 deals, only one more than Q1 2009, at the nadir of the Great Recession. The Texas Lawbook has the numbers and they include a nearly 94% drop in year-over-year value from 2019.
CDT Roundup: 8 Deals, 10 Firms, 50 Lawyers, $6.9B
The oil and gas industry is still reeling from “Black April” — when the NYMEX oil benchmark hit bottom and kept going. Last week two major price reporting agencies launched their own benchmarks aiming to solve the problem by setting the price of Texas oil in Texas.
Waste Management, Advanced Disposal Reboot Merger at $4.6B
In addition to a reduced price, the two companies agreed to sell $835 million in assets, including some likely required for DOJ antitrust clearance.