It’s S-L-O-W out there in the global M&A market. Deal value reached $842 billion in the second quarter. But that’s down 27% from last year. Deal count is the lowest since 2008. Dealmakers have the jitters. And yet…The first half was the third strongest on record. And U.S. dealmaking hit its first $1 trillion half. Claire Poole deciphers these seeming contradictions in her weekly Roundup, and balances out the week that was.
Baker Botts, V&E Advising on Sunnova’s Planned $1B IPO
Baker Botts and Vinson & Elkins are the law firms of record for Sunnova Energy International’s initial public offering, which is providing a glimmer of hope in an otherwise barren environment for energy issues.
Baker Botts, Locke Lord Counsel on Texas Monthly Sale to Billionaire Houston Heiress
Two law firms with deep Texas roots were involved in Genesis Park’s sale of award-winning magazine Texas Monthly to billionaire Houston heiress Randa Duncan Williams. Claire Poole has the names of the lawyers involved and details on a sale that kept a Texas icon Texan.
Kirkland, STB Advise on C&J Energy’s $1.8B Merger with Keane
The Keane Group and C&J Energy announced a merger this week, creating a new pressure pumping giant worth an estimated $1.8 billion in enterprise value. Two national law firms leaned heavily on their Texas-based lawyers to pull off the deal and Claire Poole has the names.
CDT Roundup: 13 Deals, 17 Firms, 55 Lawyers, $2.87B
Have we entered a time of the dying deal? Claire Poole examines this question in her weekly Corporate Deal Tracker roundup.
Three Texas Firms Counsel on Comstock’s $2.2B Purchase of Covey Park
The natural gas producer’s acquisition of Denham Capital-backed Covey Park makes it the leader in the Haynesville Shale. Plus, Dallas Cowboys owner Jerry Jones increases his investment in Comstock to $1.1 billion in the deal. Claire Poole has the details.
Q1 2019: A Very Mixed Bag for Financial Advisors
As previously reported, the usual law firms saw decent numbers for Q1 deal counts involving Texas firms, but the drop in values were steep. Not surprisingly, financial advisors were not spared. Although the top Q1 deal counts belonged to the usual suspects, the drop in values was startling, according to Mergermarket data for Texas provided exclusively to The Texas Lawbook.