Free Speech, Due Process and Trial by Jury
IPOs are hot, especially among venture capital-backed firms. How hot? In the first two months of Q2 there have been 21 offerings that generated more value than 10 of the last 11 years. And with some big names reportedly in the wings, things could get hotter. Claire Poole takes the market's pulse in Texas, along with her weekly report on the week in deal-making in the Lone Star State.
Short-term bridge loans, in the form of the SCF (subscription credit facility), are becoming an increasingly useful tool for private capital funds that don't want to keep tapping their investors on capital calls for deals. Claire Poole has the SCF growth numbers, along with her weekly insights on deal-making by Texas lawyers.
Houston-based Prosperity Bancshares is acquiring Dallas-based LegacyTexas Financial Group, a $2.1 billion deal that will help expand Prosperity's presence in the North Texas market. Bracewell assisted in the transaction and Claire Poole has the specifics.
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.
Have we entered a time of the dying deal? Claire Poole examines this question in her weekly Corporate Deal Tracker roundup.
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.
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.
Due diligence often requires significant exchanges of confidential information. One of the vexing problems with those exchanges is how they can be accomplished without waiving work product protections, attorney-client privileges and similar protections and privileges. Byron Egan and Bryan McCrory look at the potential pitfalls and offer some practical suggestions.
Does the pressure of being a publicly traded PE firm affect its performance when compared to its private PE counterparts? Not so much, according to a recent PitchBook analysis. Claire Poole has the comparison, along with her weekly roundup of Texas deals.
In a $4.3 billion deal with Infrastructure Investments Fund, publicly-traded utility El Paso Electric Co. announced Monday that it has agreed to be taken private. Claire Poole has deal specifics and the potential implications for the City of El Paso.
Private equity exits in oil and gas are notoriously difficult and these days few and far between. As a result, some PEs are finding creative ways to transition. The Lawbook's Claire Poole explains in her weekly roundup of Texas deal activity.
Kirkland & Ellis, Vinson & Elkins and Latham & Watkins topped the charts in M&A deal value for Texas businesses during the first quarter of 2019. They also topped the charts in deal count, new Mergermarket data shows.
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