Locked in a five-year battle with V&E for top M&A firm in Texas, Kirkland represented more Texas-based companies in 2018 than any law firm in Texas history. New Mergermarket rankings show a growing separation between Kirkland and V&E, and even more separation between V&E and the rest of the pack. The Texas Lawbook has the details.
Blackstone Infrastructure Partners is acquiring a controlling interest in Tallgrass Energy for $3.3 billion. The purchase shows that private investors continue to have strong interest in the oil and gas industry despite lower commodity prices, particularly in the infrastructure part of the sector. Claire Poole reveals the names of lawyers and firms involved.
A lot of private equity capital has been raised to invest in the oil and gas sector – $70 billion last year, eight-fold over 2012 – but the challenge is finding where the value is, says Sam Oh, founder of Houston-based Mountain Capital. He explained his view to a gathering of the Independent Petroleum Association of America Wednesday in Houston. Claire Poole and The Texas Lawbook were there.
(June 7) – There was a surprise sale this week. Devon Energy sold all of its interests in publicly-traded EnLink Midstream Partners LP and EnLink Midstream LLC to Global Infrastructure Partners for $3.12 billion. Perhaps not surprising, Texas attorneys from three different firms were involved. Claire Poole has the names.
(June 5) – In a complex transaction with Blackstone-backed Royal Resources, Osprey Energy Acquisition Corp. purchased properties in the “core-of-the-core” of the Eagle Ford shale play, a deal which would value a newly-named company at $894 million. Claire Poole explains.
By Claire Poole – (June 1) – The Houston office of Sidley Austin was involved in a big deal this week, serving as U.S. counsel to Canada Development Investment Corp. on its acquisition of the Trans Mountain pipeline system and development project from Kinder Morgan Canada Ltd. for C$4.5 billion ($3.5 billion).
After reports earlier this year that it was looking at launching an initial public offering, Bain Capital-backed BMC Software said May 29 that it has agreed to be sold to KKR. Deal terms weren’t disclosed, but media reports put the price tag at $10 billion.
Esteemed bankruptcy lawyer Stephen Youngman, who worked on the historic American Airlines Chapter 11 restructuring, died Monday “after a courageous battle with cancer,” firm officials said.
Canadian oil and gas pipeline giant Enbridge announced a large asset sale on Wednesday. Lawyers from Norton Rose Fulbright counseled Enbridge’s U.S. affiliate on the sale of Midcoast Operating to ArcLight Capital Partners-backed AL Midcoast Holdings for $1.12 billion in cash. Gibson Dunn led the deal for ArcLight.
The power and utilities industry continues to consolidate. And two Texas law firms are benefiting from the billable hours. The Texas Lawbook has all the details and all of the Texas connections to this latest transaction.