With major M&A activity reduced to a few blockbuster simplification transactions and IPOs all but dead, the consensus of those on the floor at CERAWeek is that management is leery of deals when major investors have no interest. “We’re going through a major period of adjustment,” says Credit Suisse banker Osmar Abib. The Lawbook’s Claire Poole reports.
CDT Roundup: 9 Deals, 6 Law firms, 49 Texas Lawyers, $1.8B
On the eve of SXSW, it seems like a good time to explore the venture capital business in Texas, especially since some major firms are using the festival’s venues in Austin to court some of the emerging VC stars. The Lawbook’s Claire Poole takes a look at some of the names to look for, along with her weekly chronicle of Texas-inflected transactions.
CDT Roundup: 20 Deals, 16 Law firms, 105 Texas Lawyers, $3.03B
Year-to-date, there have been 136 deals valued at $42.58 billion – about the same number of transactions at this time last year but 46 percent less in terms of value ($78.8 billion). Capital markets activity continued to build this past week, with six transactions valued at $1.262 billion versus 14 M&A/private equity/venture capital deals worth $1.771 billion. Texas Lawbook Senior M&A Writer Claire Poole has the inside details.
CDT 2018: More Work, More Money, More PE Influence
Lawyers in Texas reported work on 18 percent more transactions last year than in 2017 with $1 billion-plus deals dominating the activity. Claire Poole takes a deep dive into data collected exclusively by The Texas Lawbook’s Corporate Deal Tracker.
CDT Roundup: 12 Deals, 8 Law firms, 69 Texas Lawyers, $2.04B
With the increased influence of private equity, dealmaking in a marketplace crowded by money is skewing toward larger and larger deals. But a survey shows that a large number of private equity firms say they are ready to unload their portfolios if there is a market correction in the next 12 months. In her CDT Weekly Roundup Claire Poole explores that further, as well as last week’s Texas deals.
CDT Roundup: 16 Deals, 18 Law firms, 77 Lawyers, $9.97B
At the North American Prospect Expo there were back rubs and parties, an artist painting colorful vistas and a replica of a 1936 Auburn Speedster. But there were also deals. And talk of deals. So Claire Poole begins her weekly Roundup of Texas deal activity from the NAPE exhibit floor.
V&E, Akin advise on Targa’s $1.6B sale of Badlands stake to Blackstone/GSO
Houston-based Targa Resources Corp. announced Tuesday that it agreed to sell 45 percent of North Dakota unit Targa Badlands to funds managed by GSO Capital Partners and Blackstone Tactical Opportunities for $1.6 billion in cash. Claire Poole has the details.
Latham Grabs Akin Gump Investment Funds Partner
Ivana Rouse is Latham’s third lateral partner hire in Houston this year. She will be a partner in the firm’s corporate department and a member of the investment funds practice.