CDT Roundup: 22 Deals, 11 Firms, 119 Lawyers, $6.4B
Globally, 2019 came in as the fourth highest dealmaking year ever, thanks to U.S. buyers, but a slight slowdown in deal value and count over 2018 could portend a different-looking 2020.
CDT Roundup: 22 Deals, 19 Firms, 180 Lawyers, $7.15B
The year-end rush to ink deals continued before the holidays began, with transactions down on a volume and value basis over the previous week but up on both metrics over the same time last year.
‘A Herculean Effort’
Despite the malaise in the oilfield services sector, which has put the kibosh on M&A, boutique investment bank PPHB is still managing to eke out deals. Co-founder Joe Hoepfl talked with The Texas Lawbook about the state of the market and his outlook for next year.
CDT Roundup: 24 Deals, 23 Firms, 167 Lawyers, $36.3B
Texas business leaders are bullish on dealmaking for next year, with technology front-of-mind on the diligence front, plus a transaction rush by Texas lawyers before year-end. Claire Poole explains.
Weil, V&E Advise on WPX’s $2.5B Purchase of EnCap-backed Felix
Analysts say the deal is attractive for WPX compared with other recent transactions in the consolidating oil patch and may lead to asset sales to help with financing.
Locke Lord, Jones Day Aid on Asbury Auto’s $1B Purchase of Park Place Dealerships
The deal increases the buyer's presence in Dallas, which is considered one of the country’s most desirable luxury car markets, with Texas becoming 36% of its sales.
Elite National Corporate Firms Dominate Big Dollar M&A in Texas
There have been 11,013 M&A transactions in Texas during the past 13 years with a combined value of $3.4 trillion. Mergermarket and The Texas Lawbook examined which law firms did most of the biggest deals. Only five of the top 30 firms are based in Texas. Four of the top 10 firms do not have an office in the state.
CDT Roundup: 11 Deals, 11 Firms, 55 Lawyers, $10.4B
Energy service and equipment deals are sagging, much like the rest of the sector, with strategic companies the most active acquirers and private equity buyers remaining focused on transactions with diversified exposure across the value chain. Claire Poole explores that plus the continued slide in deal activity by Texas lawyers.
Texas Capital, Independent Go with Non-Texas Lawyers as Primary Counsel on $5.5B Merger
Texas Capital GC Kelly Rentzel chose Sullivan & Cromwell to lead its side of the transaction, while Independent GC Mark Haynie selected Wachtell Lipton. The Texas Lawbook has the details.
Texas PE Deals are Down and O&G is the Culprit
Private equity investment is down this year in Texas, and oil and gas have been particularly affected, according to exclusive data provided to The Texas Lawbook by Mergermarket. How low? Claire Poole has an analysis.
CDT Roundup: Beyond Finally Bags The Container Store in Long-Courted Takeover
The CDT Roundup saw 11 deals reported for the week ended April 4 with a total valuation of nearly $33 billion. The prior week had 13 deals reported with a total value of $10.7 billion, while a year ago at this time there were 19 deals valued at $27.76 billion.
The bulk of the week’s value derives from a $29.1 billion megamerger between two food distribution giants, Sysco and Jetro Restaurant Depot.
But the most interesting may be the much smaller acquisition — finally — of The Container Store by Beyond, Inc., better known by its pre-bankruptcy moniker Bed Bath & Beyond.
That and more in this edition of CDT Roundup.
