Heading into the thick of the holiday season, as well as the year’s end, two separate trends may be emerging: first, middle market deals are beginning to thin; second, PE is gaining influence fast enough to account for half the M&A market in the next five years. The Lawbook’s Claire Poole explains in her weekly Corporate Deal Tracker Roundup.
Two Houston Lawyers Score Three M&A Deals Each in the Past Month
It’s been a busy time for mergers and acquisitions in Texas, particularly in the oil and gas industry. And over the last month or so, two Houston lawyers each handled three large transactions that together were worth more than $21 billion. The lawyers who put those deals together talked to The Lawbook’s Claire Poole about how those deals came about.
Akin Gump Counsels Longtime Client Cimarex on $1.6B Resolute Purchase
In the latest of a wave of billion-dollar-plus mergers between oil and gas producers, Denver-based Cimarex Energy Co. announced Monday that it agreed to buy crosstown company Resolute Energy Corp. for $1.6 billion, including debt. Texas lawyers from Akin Gump were involved, and The Lawbook’s Claire Poole has those details.
Mergermarket: Goldman Sachs, JP Morgan Lead Financial Advisors in Texas M&A
The Texas Lawbook has exclusive top 30 rankings of financial advisors in mergers and acquisitions involving Texas-based companies. Mergermarket data shows that 15 investment banks worked on 10 deals or more.
V&E, Latham Aid on Vantage’s $1.65B purchase of QEP’s Williston Properties
Vinson & Elkins and Latham & Watkins advised on Vantage Energy Acquisition Corp.’s $1.65 billion purchase of oil and gas properties in North Dakota’s and Montana’s Williston Basin from a unit of QEP Resources Inc. Claire Poole has the details.
CDT Roundup: 16 Deals, 13 Law Firms, 183 Texas Lawyers, $17.3B
Observers have long said that the oil and gas industry needs to consolidate, given the number of players and investors’ push for companies to generate free-cash flow and higher dividends and stock buybacks. This week they got their wish with three different $1 billion-plus deals. Claire Poole has the details of those deals, and more.
McGuireWoods Independent Sponsor Conference: Several Factors Drive Explosive Growth
As the independent sponsor model continues to expand in popularity, private equity leaders and investment professionals need to find ways to differentiate themselves. More than 600 independent sponsors and capital providers came together last month to share insights on industry trends and best practices for structuring and executing transactions.