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Last week the Corporate Deal Tracker posted 2021 M&A law firm rankings for Texas-led deals through Sept. 30. This week CDT ranks firms for their participation in deals whether or not their deals were Texas-led.
A Dallas REIT specializing in data centers announced that it is being acquired by a consortium led by KKR and Global Infrastructure Partners. Kirkland's Texas offices were in the thick of the deal.
In the first three quarters of 2021, there were well more than 600 M&A transactions involving Texas corporate lawyers — most of them led by Texas corporate lawyers. In the latest rankings from the Lawbook's Corporate Deal Tracker database, the top 10 Texas-based offices and Texas-based firms gobbled up more than two-thirds of the transactions reported to The Lawbook. At the top, as they have been for nearly a decade, are Kirkland & Ellis and Vinson & Elkins. But there are also a few surprising new names on the list. The Lawbook has them all.
More than a few recent deals are highlighting two things: the return of $80 oil and the importance of the Haynesville natural gas play. The Lawbook's Claire Poole takes a look at why the East Texas/northern Louisiana play is so hot of late. And, as always, there's our regular review of last week's M&A and CapM transactions.
The Texas Lawbook visited with Glover about what kinds of deals he is seeing in the middle market, how his practice has evolved since making partner and the future of rep and warranty insurance.
Two big deals in the oil patch may signify that the recent bump in oil prices is being taken seriously by both sellers and buyers. Pioneer Natural Resources announced a $3.25 billion sale of assets in the Delaware Basin to Continental Resources. Elsewhere Southwestern Energy agreed to buy GEP Haynesville from Blackstone for $1.85 billion. Claire Poole has the details and the names of the lawyers involved.
ESG is gaining the same kind of investment cachet that socially responsible investing did in the 60s. And according to the data firm Preqin, that cachet has reached a noticeable level of demand from investors — to the tune of $3.1 trillion in capital assets managed by firms committed to ESG investing. More on that and last week's Texas transactions in the CDT Roundup.
With oil prices up 40% since spring, it's not surprising that there is modest optimism among O&G industry watchers that producers will see increases in borrowing strength in both the credit and exchange markets. The 14th edition of Haynes and Boone's Borrowing Base Redeterminations Survey predicts as much, but with some surprising differences between producers and bankers. The CDT Roundup has those details, as well as last week's deals.
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