Baker Botts, one of the oldest, largest and most successful corporate law firms in Texas, has chosen John Martin, a partner in its Palo Alto office, as its next managing partner. He is the firm’s first non-Texas based partner to lead the 725-lawyer operation.
Top Texas M&A Deals of 2018
Here are the top 50 M&A transactions involving Texas-headquartered companies in 2018 as compiled exclusively for The Texas Lawbook by Mergermarket.
CDT Roundup: 14 Deals, 10 Law Firms, 110 Lawyers, $6.4B
Should the M&A market be preparing for a slow start to 2019? The data crunchers at Interlinks think so. They project first half growth of only 5 percent over H1 2018. Claire Poole explains their reasoning in her weekly CDT Roundup.
CDT Roundup: 18 Deals, 15 Law Firms, 99 Lawyers, $6.74B
Merger and acquisition activity usually starts out the year slowly and then builds. Bloomberg has reported that last month was the best January for deals globally since 2000 with $275 billion worth of transactions. So if past patterns hold, 2019 could be a very big year for dealmaking. Claire Poole explains in her weekly CDT Roundup.
Financial Advisor Rankings: Make Way For The ‘Bulge-Bracket Banker’
Barclays and Goldman Sachs top the 2018 league tables for investment banks advising on Texas deals. But the real story in exclusive Mergermarket data provided to The Texas Lawbook may be the trend toward fewer but bigger deals in the state and elsewhere. Claire Poole explains.
Mergermarket: Kirkland, then V&E Dominate Texas M&A
Locked in a five-year battle with V&E for top M&A firm in Texas, Kirkland represented more Texas-based companies in 2018 than any law firm in Texas history. New Mergermarket rankings show a growing separation between Kirkland and V&E, and even more separation between V&E and the rest of the pack. The Texas Lawbook has the details.
Baker Botts, V&E, Sidley, Latham Aid on Blackstone’s $3.3B Acquisition of Tallgrass
Blackstone Infrastructure Partners is acquiring a controlling interest in Tallgrass Energy for $3.3 billion. The purchase shows that private investors continue to have strong interest in the oil and gas industry despite lower commodity prices, particularly in the infrastructure part of the sector. Claire Poole reveals the names of lawyers and firms involved.
CDT Roundup: 13 Deals, 11 Law Firms, 67 Lawyers, $2.77B
Mid-sized private equity deals were at record levels last year: up in volume by 15.1 percent and in value by 14.8 percent. But capital raised slipped a bit and the number of funds dropped more than 20 percent. Does that mean a mid-market slow-down is coming? Maybe not. Visible optimism still rules the markets, as Claire Poole explains.
2018: The Most Deals Ever? Probably – But There Are Still Worries
Last year, 2018, was a good one for M&A. The deal count, a 12-year high, may have been the highest for Texas companies ever. The value of those deals was the second-best since 2007. But a sluggish fourth quarter gives pause for the new year, one that a Mergermarket expert describes as big dealmaking “in search of a catalyst.” Claire Poole explains.
Sidley Advises Luby’s on Proxy Fight Win Over Activist Investor
The management of Luby’s Inc. chalked up a big win on Friday – and so did several Sidley lawyers in Texas. The Houston-based restaurant chain beat back a proxy fight by Bandera, a New York-based investment firm run by Jeff Gramm, son of former U.S. Sen. Phil Gramm. Claire Poole has the details.