Free Speech, Due Process and Trial by Jury
Energy is back in the news, and not in a good way. The Texas grid, which has worked remarkably well in developing new energy sources, crashed mercilessly this week. With warmer weather on the horizon, get ready for the cleanup, the political recriminations and the lawsuits. They could last for years, suggests one expert. The CDT Roundup looks at the mess, in addition to last week's dealmaking.
A Delaware court this week handed a trial defense win to Energy Transfer in a dispute that stemmed from the 2015 mega-merger between ET companies Regency Energy Partners and Energy Transfer Partners, clearing the defendants of $1.6 billion in possible damages.
[Updated to include new names]
The deal consolidates a large swath of energy pipelines across four states and aids Energy Transfer's drive to deleverage its balance sheet. The Lawbook's Allen Pusey has the names of the lawyers involved.The top three financial advisors for deals involving Texas firms, as well as six of the top ten firms, experienced declines from 2019. Caroline Evans has the numbers and the names.
Neither global pandemic nor 13-hour time difference nor language barriers stays the ability of Jared Sine to the swift completion of a $1.7.billion deal. As chief legal officer for Match Group, Sine said the biggest challenge in acquiring Seoul-based Hyperconnect was gaining the trust of a thriving business's founders.
Looking to expand its reach into government agencies, Tyler Technologies acquired NIC Inc., a digital government payments provider. Caroline Evans has the names of the lawyers tapped for the deal.
M&A activity may have been down across Texas in 2020, but Gibson Dunn partner Jeff Chapman had the busiest year of his 37-year career. He worked on six billion-dollar-plus transactions and a few smaller deals. But there is much more to Chapman's story than dealmaking.
Recent rig count stats suggest a modest rebound in oil and gas. Crude oil prices hovering around $60 per barrel suggest that optimism isn't just a guess. The question is whether higher commodity prices mean a future for new production, or simply a better return on the O&G already drilled. In the Corporate Deal Tracker Roundup, Caroline Evans looks at the evidence, along with last week's deals.
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