CDT Roundup: 12 Deals, 8 Firms, 136 Lawyers, $9.3B

Good news on the M&A front.

In the first quarter just ended, deal volumes globally climbed 26 percent to about $712 billion, according to Dealogic data. U.S. M&A volumes did much better, jumping by 59 percent to $431.8 billion. The number of transactions worth more than $10 billion rose to 14, compared with 5 during the same period last year.

The quarter’s largest transactions were Capital One’s $35.3 billion purchase of Discover Financial, Synopsys’ $35 billion acquisition of Ansys and Diamondback Energy’s $26 billion merger Endeavor, which used Paul Weiss and Texas’ own Vinson & Elkins for outside counsel (with a team led by partners Doug McWilliams, Bryan Loocke and Jackson O’Maley).

At the time it was announced, the Diamondback-Endeavor deal was the fifth billion-dollar oil and gas transaction and the largest so far this year on a list that includes BlackRock/Global Infrastructure Partners ($12 billion) and Chesapeake/Southwestern ($7.4 billion), according to the Texas Lawbook‘s Corporate Deal Tracker.

The big M&A numbers from Dealogic point to a healthy market amid strong earnings and increasing stock prices, all against a backdrop of potential interest rate cuts this year. And dealmakers foresee a good M&A market leading up to the U.S. presidential election. After that, it’s anyone’s guess.

Easter Week was comparatively light on action with 12 transactions reported with eight M&A deals ($4.3 billion) and four capital markets issues ($5 billion) nearly splitting the week’s aggregate value of $9.286 billion.

That compares to 18 deals for $5.4 billion the week prior and 21 deals for $18.7 billion this same week last year. Before you drop your leftover chocolate bunny over that last year-over-year comparison, chalk in the realization that Easter eggs rolled a calendar week later in 2023. That week saw 18 transactions for $8 billion.

Weekly Corporate Deal Tracker Roundup Stats

A compilation of weekly stats from The Lawbook's CDT Weekly Roundup
(Deal Values in Millions)

Week Ending	Deal Count	Amount	Firms	Lawyers	M&A Count	M&A Value $M	CapM Count	CapM Value $M
21-Dec-24	11	$2,798	11	92	8	$2,229	3	$570
14-Dec-24	15	$5,323	12	186	12	$3,812	3	$1,511
07-Dec-24	16	$4,766	10	231	11	$2,321	5	2,445
30-Nov-24	10	$10,291	9	103	4	$8,290	6	$2.001
23-Nov-24	15	$4,553	15	153	11	$3,379	4	$1,174
16-Nov-24	17	$11,488	11	245	13	$10,186	4	$1,303
09-Nov-24	14	$2,110	12	139	12	$1,410	2	$700
02-Nov-24	12	$52,788	11	107	11	$52,738	1	$50
26-Oct-24	8	$3,160	8	65	7	$3,065	1	$75
19-Oct-24	12	$5,304	11	136	11	$4,554	1	$750
12-Oct-24	17	$8,438	12	150	15	$8,116	2	$322
05-Oct-24	22	$23,181	12	189	15	$19,980	7	$3,201
28-Sep-24	11	$2,356	7	144	7	$53	4	$2,303
21-Sep-24	12	$9,568	10	169	5	$4,101	7	$5,467
14-Sep-24	24	$10,988	12	235	16	$7,175	8	$3,813
7-Sep-24	12	$20,420	16	168	11	$20,307	1	$112.9
31-Aug-24	13	$20,631	9	134	12	$14,775	1	$5,856
24-Aug-24	19	$8,452	21	325	16	$7,102	3	$1,350
17-Aug-24	25	$49,196	16	304	11	$39,386	14	$9,810
10-Aug-24	20	$12,264	15	312	16	$9,794	4	$2,470
03-Aug-24	26	$16,498	16	334	18	$8,137	8	$8,361
27-Jul-24	19	$16,442	21	271	15	$13,838	4	$2,604
20-Jul-24	15	$16,016	14	184	10	$14,232	5	$1,784
13-Jul-24	20	$17,220	14	265	18	$7,146	2	$10,074
6-Jul-24	11	$3,941	11	95	8	$2,650	3	$1,291
29-Jun-24	14	$6,296	15	224	8	$6,296	6	$1,927
22-Jun-24	12	$5,679	8	137	5	$210	7	$5,469
15-Jun-24	13	$9,895	16	214	10	$5,280	3	$4,615
8-Jun-24	19	$23,859	13	239	12	$19,436	7	$4,423
1-Jun-24	12	$34,510	11	147	9	$26,110	3	$8,400
25-May-24	13	$9,684	15	171	10	$4,434	3	$5,250
18-May-24	11	$5,490	11	173	8	$3,129	3	$2,361
11-May-24	22	$14,855	14	227	16	$11,105	6	$3,750
4-May-24	13	$3,139	9	87	10	$1,297	3	$1,842
27-Apr-24	10	$6,684	6	28	10	$6,684	0	0
20-Apr-24	19	$15,989	11	147	9	$5,208	10	$10,781
13-Apr-24	13	$8,952	9	76	10	$1,652	3	$7,300
6-Apr-24	22	$22,616	14	222	14	$13,501	8	$13,116
30-Mar-24	12	$9,286	8	136	8	$4,299	4	$4,987
23-Mar-24	18	$5,451	17	266	16	$4,759	2	$692
16-Mar-24	21	$11,437	13	186	14	$9,316	6	$2,070
9-Mar-24	23	$4,695	21	218	19	$2,723	4	$1,972
2-Mar-24	20	$9,108	19	372	14	$4,558	6	$4,550
24-Feb-24	19	$16,382	12	248	15	$9,507	4	$6,875
17-Feb-24	16	$29,932	15	157	12	$29,216	4	$716
10-Feb-24	25	$10,750	17	196	19	$5,372	6	$5,379
3-Feb-24	12	$8,416	18	125	9	$3,416	3	$5,000
27-Jan-24	9	$8,165	9	87	8	$7,815	1	$800
20-Jan-24	14	$4,084	12	109	12	$3,219	2	$865
13-Jan-24	17	$33,588	12	256	12	$26,765	5	$6,823
6-Jan-24	8	$7,915	8	84	6	$7,265	2	$650
30-Dec-23	17	$14,599	12	99	15	$2,714	2	$11,885
23-Dec-23	23	$4,182	13	219	16	$1,813	7	$2,370
16-Dec-23	13	$16,436	13	280	7	$15,150	5	$1,286
9-Dec-23	26	$14,633.90	17	244	16	$8,095	10	$6,538.90
2-Dec-23	13	$6,720	9	57	12	$6,630	1	$90
25-Nov-23	9	$4,835	9	131	6	$1,785	3	$3,050
18-Nov-23	22	$6,568.70	17	184	14	$4,709.20	8	$1,859.50
11-Nov-23	15	$9,825	13	179	12	$6,581	3	$3,244
4-Nov-23	15	$20,582.50	14	193	12	$19,417.50	3	$1,165
28-Oct-23	18	$68,419.10	18	152	15	$66,646	3	$1,773.10
21-Oct-23	16	$6,755.90	16	165	15	$6,755.90	1	$3
14-Oct-23	14	$67,851.20	13	125	9	$61,998.50	5	$5,852.70
7-Oct-23	17	$6,595.50	13	228	16	$5,995.50	1	$600
30-Sep-23	17	$1,896.45	13	189	14	$806.45	3	$1,090
23-Sep-23	23	$6,432.70	17	230	16	$1,402.80	7	$5,029.90
16-Sep-23	25	$23,226.70	23	353	16	$17,239	9	$5,987.70
9-Sep-23	12	$6,369	8	102	7	$4,311	5	$2,058
2-Sep-23	14	$2,522	6	92	13	$1,322	1	$1,200
26-Aug-23	17	$12,160.25	13	202	15	$6,573.25	2	$5,587.00
19-Aug-23	19	$11,505	13	213	15	$11,255	4	$250
12-Aug-23	19	$9,698.80	13	184	7	$3,270	12	$6,428.80
5-Aug-23	13	$5,201	12	118	12	$5,051	1	$150
29-Jul-23	15	$21,031.60	13	196	11	$18,292.00	4	$2,739.60
22-Jul-23	18	$3,992	12	130	13	$2,808	5	$1,184
15-Jul-23	13	$8,254.95	13	81	13	$8,254.95	0	0
8-Jul-23	16	$5,441.45	12	172	11	$2,443	5	$2,998.45
1-Jul-23	16	$6,872	10	105	12	$5,474	4	$1,398
24-Jun-23	13	$10,914	16	201	10	$7,874	3	$3,040
17-Jun-23	17	$5,880.70	15	151	15	$4,705.70	2	$1,175
10-Jun-23	19	$8,516.10	13	111	16	$6,252.40	3	$2,263.70
June 3 2023	12	$6,104.42	12	138	8	$4,256.92	4	$1,847.50
27-May-23	17	$12,200	10	67	11	$6,165	6	$6,035
20-May-23	11	$22,458.10	8	103	4	$19,455	7	$3,003
13-May-23	12	$7,034	10	101	8	$5,460	4	$1,574
6-May-23	20	$3,297.60	18	196	17	$2,985.60	3	$312
29-Apr-23	23	$3,691.20	18	135	17	$1,969.70	6	$1,721.50
22-Apr-23	16	$5,570	14	104	14	$4,750	2	$1,000
15-Apr-23	12	$23,818.10	9	59	10	$21,618.10	2	$2,200
8-Apr-23	16	$7,949	9	173	9	$5,472	7	$3,477
1-Apr-23	21	$18,676.70	12	175	11	$10,926.70	10	$7,750
25-Mar-23	15	$8,779.50	10	141	5	$2,362	10	$6,416.50
18-Mar-23	7	$14,048.80	6	69	5	$13,345	2	$703.80
11-Mar-23	21	$11,576	16	165	16	$8,131	5	$3,445
4-Mar-23	20	$9,668	11	228	16	$8,209	4	$1,459
25-Feb-23	13	$5,335	13	130	12	$4,235	1	$1,200
18-Feb-23	14	$5,743.70	13	158	8	$898.70	6	$4,845
11-Feb-23	16	$12,088	12	137	12	$9,965	4	$2,123
4-Feb-23	17	$8,066	15	140	13	$5,614	4	$2,452
28-Jan-23	7	$2,180	7	75	5	$1,692.75	2	$488
21-Jan-23	17	$5,768	16	174	12	$1,918	5	$3,850
14-Jan-23	11	$2, 800	10	102	8	$421	3	$2,400
7-Jan-23	18	$8,296	11	167	14	$6,461	3	$1,835
31-Dec-22	14	$2,732	11	99	12	$2,092	2	$640
17-Dec	14	$7,919	13	115	12	$7,419	1	$500
10-Dec-22	14	$10,093	12	88	11	$7,093	3	$3,000
3-Dec-22	26	$12,800.90	11	172	20	$4,141	6	$8,659.90
26-Nov-22	8	$2,266.70	8	5	3	$76	5	$2,190.70
19-Nov-22	21	$2,886	15	212	19	$2,550	2	$336
12-Nov-22	13	$15,093.70	9	81	9	$14,200	4	$893.70
5-Nov-22	25	19,337.20	16	509	22	$8,267.20	3	$11,070
29-Oct-22	15	$7,805.30	9	116	14	$7,180.30	1	$625
22-Oct-22	20	$8,193.50	13	253	13	$5,442	7	$2,751.50
15-Oct-22	9	$3,046.10	9	139	7	$2,588.30	2	$457.80
8-Oct-22	19	$2,011.80	12	114	16	$833.80	3	$1,178
1-Oct-22	23	$5,532.90	16	156	18	$4,952.30	5	$580.60
24-Sep-22	18	$5,194	14	216	15	$4,050	3	$1,144
17-Sep-22	21	$8,352.30	12	320	15	$4,759.60	6	$3,592.70
10-Sep-22	15	$19,853.50	10	126	13	$19,403.60	2	$450
3-Sep-22	9	$2,312	9	62	9	$2,312	0	0
27-Aug-22	16	$30,891.70	10	135	15	$30,666.40	1	227.7
20-Aug-22	12	$1,977	8	152	9	925	3	$1,052
13-Aug-22	18	$8,004.70	11	242	11	$2,844.70	7	$5,160
6-Aug-22	24	$7,948.90	12	240	17	$3,577	7	$4,371.90
30-Jul-22	8	$6,941	9	78	7	$6,839	1	$102
23-Jul-22	11	$801	11	92	10	$801	1	0
16-Jul-22	14	$3,650	10	122	14	$3,650	0	0
9-Jul-22	10	$3,557.70	7	68	9	$3,557.70	1	0
2-Jul-22	18	$8,609.40	13	152	15	$2,754.40	3	$5,855
25-Jun-22	15	$6,142	13	146	9	$2,017	6	$4,125
18-Jun-22	17	$11,890.10	14	228	15	$11,410	2	479.7
11-Jun-22	17	$7,600	12	123	10	$2,300	7	$5,300
4-Jun-22	12	$2,937	10	127	9	$692	3	$2,245
28-May-22	9	$3,197.60	11	86	9	$3,197.60	0	0
21-May-22	14	$7,284.50	12	185	11	$6,609	3	$675.50
14-May-22	11	$306.60	9	80	10	$306.60	1	$225
7-May-22	16	$10,451.75	12	108	12	$1,827	4	$8,624.75
30-Apr-22	16	$2,296.50	16	157	12	$895.50	4	$1,401
23-Apr-22	10	$2,241	11	58	8	$1,641	2	$600
16-Apr-22	11	$6,643	7	156	8	$2,359	3	$4,284
9-Apr-22	17	$4,429	14	184	11	$1,690	6	$2,739
2-Apr-22	13	$1,755	8	84	10	$1,145	3	$610
26-Mar-22	11	$3,205	8	65	6	$200	5	$3,005
19-Mar-22	13	$2,239.17	9	106	13	$2,239.17	0	0
12-Mar-22	18	$12,016	11	239	15	$11,965	2	$51.35
5-Mar-22	17	$6,786	13	137	13	$5,161	4	$1,625
26-Feb-22	12	$5,095	8	149	9	$4,437.50	3	$658
19-Feb-22	17	$22,229	17	174	14	$21,354	3	$875
12-Feb-22	12	$2,344.70	10	73	8	$641.70	4	$1,703
5-Feb-22	11	$2,503	8	99	11	$2,503	0	0
29-Jan-22	11	$3,872	12	101	12	$3,872	0	0
22-Jan-22	13	$5,143.50	10	99	12	$4,842.50	1	$301
15-Jan-22	12	$7,605	9	155	9	$6,480	3	$1,025
8-Jan-22	13	$8,256.20	11	102	13	$8,256.20	0	0
1-Jan-22	9	$1,273.80	6	50	9	$1,273.80	0	0
25-Dec-21	21	$4,734.75	11	176	16	$3,410	5	$1,324.75
18-Dec-21	26	$7,325.20	15	193	18	$3,640.20	8	$3,685.20
11-Dec-21	16	$5,017	10	109	13	$1,417	3	$3,600
4-Dec-21	14	$2,310	8	86	8	$2,310	6	$1,882.05
27-Nov-21	9	$3.460.1	10	101	6	$1,758	3	$1,702.60
20-Nov-21	20	$22,792	15	157	12	$18,864.50	8	$3,928
13-Nov-21	21	$26,729	12	178	13	$11,822	8	$14,907
6-Nov-21	12	$8,303	13	157	10	$6,682	3	$1,621
30-Oct-21	21	$10,368	15	218	15	$9,24.4	6	$1,103.00
23-Oct-21	21	$18.783.1	15	222	11	$12,314	10	$6,468.60
16-Oct-21	15	$3,868	11	118	15	$2,293	2	$1,575
9-Oct-21	20	$8,610	16	175	16	$7,795	4	$815
2-Oct-21	14	$6,250	11	137	10	$5,200	4	$1,050
25-Sep-21	11	$11,460	9	93	7	$10,200	4	$1,250
18-Sep-21	11	$16,603	8	99	8	$15,084	3	$1,519
11-Sep-21	17	$10,653	11	103	13	$8,503	4	$2,150
4-Sep-21	13	$7,222	10	89	11	$6,715	2	$507
28-Aug-21	12	$763	9	63	11	$663	1	$100
21-Aug-21	12	$29,659	7	79	11	$29,579	1	$80
14-Aug-21	22	$17,845	11	199	12	$12,805	10	$5,04
7-Aug-21	17	$13,670	12	139	15	$11,766	2	$1,904
31-Jul-21	21	$8,160	11	134	10	$3,574	10	$4,586
July 24,2021	21	$6,367	11	139	15	$3,712	6	$2,655
17-Jul-21	14	$4,009	11	124	12	$2,015	2	$1,994
10-Jul-21	16	$3,997	13	143	11	$1,597	4	$2,4
3-Jul-21	24	$7,492	13	94	16	$3,769	8	$3,722
26-Jun-21	10	$4,995	7	85	8	$3,847	2	$1,148
19-Jun-21	28	$16,830	8	228	9	$1,861	19	$14,968
12-Jun-21	26	$27,238	15	209	19	$25,602	7	$1,636
5-Jun-21	15	$15,539	13	100	13	$14,709	2	$600
29-May-21	35	$20,279	11	145	28	$18,64	7	$1,639
22-May-21	24	$53,208	14	174	17	$51,047	7	$2,161
15-May-21	18	$10,620	13	220	11	$5,870	7	$4,809
8-May-21	17	$10,400	11	156	15	$8,386	2	$2,500
1-May-21	21	$7,200	16	115	12	$3,808	9	$3,392
24-Apr-21	8	$20,200	9	31	8	$20,200	0	0
17-Apr-21	14	$6,270	8	102	11	$40,180	3	$2,260
10-Apr-21	15	$8,940	13	129	14	$7,990	1	$950
3-Apr-21	18	$19,513	10	151	12	$16,923	6	$2,590
27-Mar-21	27	$13,942	15	244	14	$4,300	13	$9,633.50
20-Mar-21	11	$2,046	4	102	3	$270	8	$1,776
13-Mar-21	15	$3,270	9	109	6	$538	9	$2,732
6-Mar-21	24	$13,617	10	196	13	$10,395	11	$3,222
27-Feb-21	19	$8,105	12	139	15	$4,970	4	$3,135
20-Feb-21	9	$8,820	9	153	8	$8,520	1	$300
13-Feb-21	12	$4,852.60	7	81	7	2,766	5	$2,086.60
6-Feb-21	18	$9,752	13	153	14	$5,222	4	$4,530
30-Jan-21	18	$9,449	9	182	15	$8,753.80	3	$695.30
23-Jan-21	14	$8,150	8	118	6	$4,000	8	$4,150
16-Jan-21	17	$6,783	13	138	11	$2,400	6	$4,382.90
9-Jan-21	22	$6,829	14	135	18	$3,139.30	4	$3,690
2-Jan-21	7	$1,466	7	60	7	$1,466	0	0
26-Dec-20	18	$15,900	12	163	16	$5,300	1	$600
19-Dec-20	18	$9,769	14	110	14	$8,426	4	$1,343
12-Dec-20	10	$7,200	9	100	9	$3,325	1	$3,830
5-Dec-20	15	$4,261	9	122	9	$2,780	6	$1,481
28-Nov-20	19	$7,758	10	110	13	$4,003	6	$3,755
14-Nov-20	14	$864.10	14	157	12	$289.10	2	$575
7-Nov-20	13	$6,332	9	129	9	$2,483.50	4	$3,849
31-Oct-20	10	$3,995.80	8	103	6	$3,231.10	4	$754.70
24-Oct-20	6	$18,100	6	58	5	$17,709	1	$350
17-Oct-20	8	$351.90	5	55	8	$351.90	0	0
10-Oct-20	7	$5,229	3	50	4	$735	3	$4,494
3-Oct-20	14	$21,428	9	173	9	$17,535	5	$3,893
26-Sep-20	10	$12,770	8	93	5	$10,300	5	$2,470
19-Sep-20	14	$8,365	9	101	6	$1,020	8	$7,345
12-Sep-20	6	$4,406	8	59	3	$1,270	3	$3,136
5-Sep-20	11	$5,191	8	117	9	$4,061	2	$1,130
29-Aug-20	11	$2,531	9	94	5	$1,130	6	$1,401
22-Aug-20	18	$6,574	12	140	7	$1,930	11	$4,644
15-Aug-20	13	$4,991	10	97	7	$1,216	6	$3,775
8-Aug-20	12	$32,092	11	112	9	$30,457	3	$1,635
1-Aug-20	7	$5,287	8	76	5	$3,687	2	$1,600
25-Jul-20	9	$18,751	6	67	7	$18,403	2	$348
18-Jul-20	6	$1,982.50	5	50	4	$1,407.50	2	$575
11-Jul-20	11	$565.10	12	75	10	$65.10	1	$500
4-Jul-20	10	$8,889	8	98	9	$8,788	1	$100.30
27-Jun-20	8	$6,874	10	50	5	$4,972.50	3	$2,081.50
20-Jun-20	12	$4,444	9	115	7	$2,829	5	$1,615
13-Jun-20	6	$3,582	4	37	2	$350	4	$3,232
6-Jun-20	11	$3,213.70	8	65	7	$470	4	$2,743.70
30-May-20	8	$7,335	7	48	6	$4,639	2	$2,697
23-May-20	4	$432.40	4	34	3	$432.40	1	0
16-May-20	6	$310	6	34	5	$310	1	0
9-May-20	18	$5,630	16	124	14	$3,180	4	$2,450
2-May-20	15	10,400	10	90	8	$1,900	7	$,8,500
25-Apr-20	8	$3,400	9	36	5	$1,000	3	$2,450
18-Apr-20	19	$9,500	14	92	8	$185.70	11	$9,360
11-Apr-20	12	$6,000	9	40	5	$190	7	$5,800
4-Apr-20	14	$8,200	11	68	10	$2,200	4	$6,000
28-Mar-20	16	$6,500	13	96	10	$3,700	6	$2,800
21-Mar-20	11	$11,910	7	33	7	$2,250	4	$9,960
14-Mar-20	7	809.8	6	34	6	684.8	1	125
7-Mar-20	16	$2,500	15	70	13	$669	3	$1,400
29-Feb-20	13	$15,260	13	128	11	$11,760	2	$3,500
22-Feb-20	12	$3,700	10	92	10	$2,560	2	$1,130
15-Feb-20	16	$1,250	10	84	12	$35	4	$1,222
8-Feb-20	18	$6,080	14	123	14	$2,595	4	$3,485
1-Feb-20	21	$20,900	12	101	14	$17,860	7	$3,060
25-Jan-20	13	$7,430	13	62	12	$6,430	1	$1,000
18-Jan-20	23	$9,580	15	120	19	$6,580	4	$3,000
11-Jan-20	21	$14,200	18	199	16	$1,020	5	$13,200
4-Jan-20	22	$6,400	11	119	16	$3,204	6	$3,245
28-Dec-19	22	$7,150	19	175	18	$6,800	4	$327.40
14-Dec-19	24	$36,300	23	167	19	$9,500	5	$26,800
7-Dec-19	11	$10,400	11	55	7	$1,082	4	$9,370
November 30. 2019	14	$2,450	12	126	12	$1,760	2	$692.50
23-Nov-19	16	$1,995	10	41	11	$615	5	$1,380
16-Nov-19	15	$3,820	13	135	11	$2,500	4	$1,271
9-Nov-19	25	$12,900	17	182	23	$12,200	2	$575
2-Nov-19	10	$2,470	12	61	9	2,450	3	$22
26-Oct-19	12	$5,560	14	70	11	$3,860	1	$1,700
19-Oct-19	8	$6,600	8	138	8	$6,600	0	0
12-Oct-19	19	$4,300	14	55	16	$3,800	3	$500
5-Oct-19	18	$14,500	19	166	15	$11,100	3	$3,400
28-Sep-19	19	$8,100	18	132	18	$7,560	1	$550
21-Sep-19	14	$6,300	16	66	11	$2,160	3	$4,170
14-Sep-19	15	$23,800	12	56	11	$21,250	4	$2,570
7-Sep-19	17	$3,500	15	98	14	$1,900	3	$1,600
31-Aug-19	5	$8,700	6	50	5	$8,700	0	0
24-Aug-19	16	$10,000	14	82	15	$4,250	1	$5,750
16-Aug-19	10	$1,680	5	52	7	$650	3	$950
9-Aug-19	17	$17,700	15	68	14	$3,900	3	$13,800
2-Aug-19	13	$5,760	12	108	13	$5,760	NA	NA
27-Jul-19	11	$7,300	13	76	8	$6,570	3	$730
20-Jul-19	13	$11,800	13	125	11	$5,300	2	$6,500
13-Jul-19	10	$775	7	46	8	$542.50	2	$233
6-Jul-19	7	$2,500	9	85	7	$2,500	0	0
29-Jun-19	23	$8,290	15	154	17	$2,300	6	$5,970
22-Jun-19	17	$10,700	10	139	14	$7,700	3	$3,000
15-Jun-19	11	$13,500	14	160	11	$13,500	NA	NA
8-Jun-19	13	$2,870	17	55	11	$1,570	2	$1,300
1-Jun-19	10	$4,460	11	60	8	$4,140	2	$315
25-May-19	17	$4,360	14	79	14	$3,700	3	$612
18-May-19	22	$9,000	17	150	16	$3,400	6	$5,600
11-May-19	18	$19,800	17	177	15	$18,300	3	$1,500
4-May-19	10	$7,075	6	32	8	$6,900	2	$175
27-Apr-19	15	$3,200	14	117	14	$3,160	1	$40
20-Apr-19	13	$13,500	10	90	9	$12,200	4	$1,300
13-Apr-19	16	$38,900	14	91	14	$37,800	2	$1,100
6-Apr-19	12	$6,870	11	94	10	$6,730	2	$50
30-Mar-19	15	$6,470	12	84	10	$7,91.5	5	$5,677
23-Mar-19	18	$6,450	14	91	14	$5,042	4	$1,408
16-Mar-19	14	$10,180	12	115	11	$8,800	3	$1,300
9-Mar-19	9	$1,800	6	49	8	$1,300	1	$500
2-Mar-19	20	$3,033	16	107	14	$1,817	6	$1,262
23-Feb-19	12	$2,040	8	69	9	$614.60	3	$1,430
16-Feb-19	16	$9,970	18	77	16	$9,970	0	0
9-Feb-19	14	$6,400	10	110	14	$6,400	0	0
2-Feb-19	18	$6,740	15	99	16	$5,720	2	$950
26-Jan-19	13	$2,770	11	67	11	$918.95	2	$1,850
19-Jan-19	15	$3,819	16	76	12	$2,594	3	$1,225
12-Jan-19	18	$7,283	14	92	15	$1,683	3	$5,600
5-Jan-19	10	$529	12	50	10	$529	0	0
22-Dec-18	17	$2,570	13	87	14	$941	3	$1,629
15-Dec-18	10	$2,860	8	26	8	$264	2	$2,600
8-Dec-18	15	$1,819	16	65	12	$552	3	$1,267
1-Dec-18	12	$7,500	10	90	9	$1,200	3	$6,200
28-Nov-18	15	$4,500	11	107	14	$4,000	1	$500
19-Nov-18	18	$6,137	13	98	13	$2,142	5	$3,995
14-Nov-18	18	$9,200	13	152	15	$8,500	3	$694
6-Nov-18	16	$17,300	16	183	14	$16,361	2	$950
29-Oct-18	14	$14,400	18	127	17	$13,800	1	$600
24-Oct-18	13	$6,140	13	126	11	$5,122	2	$1,018
17-Oct-18	18	$18,390	15	125	14	$12,292	4	$6,098
10-Oct-18	29	$3,149	18	104	20	$1,647	9	$819
2-Oct-18	18	$9,300	11	67	14	$7,300	4	$2,000
25-Sep-18	13	$7,000	11	75	10	$6,000	3	$995
18-Sep-18	9	$3,570	7	44	9	$3,570	0	0
11-Sep-18	13	$5,900	10	132	13	$5,900	0	0
7-Sep-18	14	$5,000	15	86	11	$4,000	3	$1,000
29-Aug-18	15	$20,700	14	79	13	$4,700	2	$16,000
20-Aug-18	10	$12,400	11	53	8	$11,380	3	$1,057
14-Aug-18	12	$19,900	12	132	9	$18,889	3	$1,011
7-Aug-18	16	$68,600	11	106	13	$67,259	3	$1,340
31-Jul-18	15	$15,100	15	95	11	$13,060	4	$2,060
23-Jul-18	13	$2,130	15	60	10	$1,804	3	$1,100
17-Jul-18	14	$5,370	17	98	9	$4,310	5	$1,100
9-Jul-18	16	$11,200	15	74	10	$11,080	6	$862
3-Jul-18	13	$7,000	7	81	12	$6,330	1	$750
25-Jun-18	15	$8,800	13	97	9	$4,970	6	$3,930
18-Jun-18	13	$14,200	14	80	7	$221	6	$14,290
11-Jun-18	12	$6,300	8	96	8	$5,910	4	$803
6-Jun-18	13	$14,500	10	88	8	$14,154	5	$579
31-May-18	11	$4,890	10	63	8	$3,240	3	$1,790
22-May-18	15	$20,400	11	63	9	$19,808	6	$885
15-May-18	15	$4,700	15	106	10	$3,900	5	$643
9-May-18	11	$1,400	13	88	9	$1,300	2	$560
1-May-18	8	$14,250	7	88	7	$13,400	1	$450
24-Apr-18	12	$5,300	6	61	11	$4,470	1	$800
17-Apr-18	9	$1,800	10	44	7	$2,330	2	$1,434
11-Apr-18	11	$2,500	8	32	6	$1,690	5	$809
3-Apr-18	15	$13,400	11	121	9	$12,020	6	$1,090
28-Mar-18	10	$4,000	10	92	7	$3,870	3	$215
19-Mar-18	17	$5,800	13	51	10	$590	7	$5,165
12-Mar-18	15	$3,130	11	43	11	$2,360	4	$788
6-Mar-18	19	$5,400	13	116	10	$1,530	9	$4,860
27-Feb-18	20	$6,600	13	69	14	$5,530	6	$1,030
19-Feb-18	15	$5,500	14	111	10	$3,990	6	$1,980
12-Feb-18	23	$10,900	17	157	12	$7,110	11	$3,840
5-Feb-18	16	$8,600	13	100	7	$1,330	9	$7,800
30-Jan-18	11	$12,600	11	68	5	$7,300	6	$4,982
24-Jan-18	19	$9,400	15	129	5	$2,010	14	$7,337
18-Jan-18	10	$6,280	8	49	2	$2,100	8	$4,188
9-Jan-18	12	$16,500	12	92	9	$15,890	3	$475
3-Jan-18	10	$2,500	9	47	8	$2,350	2	$150
27-Dec-17	15	$9,000	15	113	9	$7,568	6	$1,784
18-Dec-17	15	$13,800	16	164	9	$13,010	7	$1,118
11-Dec-17	14	$9,700	10	126	12	$2,940	4	$8,500
4-Dec-17	6	$1,800	6	31	5	$1,510	1	$300
28-Nov-17	7	$3,850	8	76	4	$3,260	3	$285
16-Nov-17	10	$2,700	10	48	6	$1,840	4	$856
8-Nov-17	15	$2,380	17	91	10	$1,860	5	$516
1-Nov-17	12	$4,700	17	94	9	$3,400	4	$1,300
23-Oct-17	15	$10,500	10	67	10	$9,780	4	$1,530
18-Oct-17	6	$2,000		37	3	$225	3	$1,820
10-Oct-17	12	$6,570		100	9	$3,880	3	$3,360
2-Oct-17	8	$3,100	11	19	3	$1,630	5	$1,750
25-Sep-17	8	$4,880	8	79	5	$2,660	5	$2,070
18-Sep-17	9	$4,770			3	$300	6	$4,470
12-Sep-17	11	$4,430			8	$2,030	3	$2,400
1-Sep-17	4	$1,310			3	$317	1	$1,000
23-Aug-17	11	$13,640	9		8	$11,840	3	$1,800

M&A/FUNDINGS

Ingersoll Rand buys ILC Dover from New Mountain Capital for initial $2.325B

Deal Description: Davidson, N.C.-based Ingersoll Rand Inc. announced March 25 it agreed to acquire ILC Dover from New Mountain Capital for $2.325 billion in cash and an earnout tied to the achievement of operating efficiency metrics this year. Ingersoll Rand said its new life sciences platform will have about $700 million in revenue operating as part of its precision and science technologies segment, which represents $1 billion in revenue. The deal adds new technologies for life science applications, including powder and liquid single-use solutions for biopharma and pharma, and niche solutions for the design and production of silicone, thermoplastic and specialty rubber components for medical devices, with about 75 percent of revenue from consumable replacement or recurring revenue streams. It expands Ingersoll Rand’s addressable market by more than $10 billion to a total of $65 billion in fragmented market segments with sustainable growth. New York-based New Mountain manages private equity, credit and net lease investment strategies with $50 billion in assets under management.

ILC Dover/New Mountain’s Outside Counsel: Simpson Thacher with a team led by partners Elizabeth Cooper and Johanna Mayer in New York (M&A); partner Greg Grogan, also in NYC (executive compensation and employee benefits); partner Adam Arikat in Houston (tax); and partner Peter Guryan in NYC (antitrust).

Ingersoll Rand’s Outside Counsel: Kirkland & Ellis with attorneys in New York, Miami and Washington, D.C.

ILC Dover/New Mountain’s Financial Advisors: Jefferies and Goldman Sachs

Blue Yonder buys One Network for $839 Million 

Deal Description: Blue Yonder, a Scottsdale, Ariz.-based subsidiary of Panasonic Holdings, announced March 29 it agreed to buy One Network Enerprises, a Dallas provider of intelligent control towers for digital supply chains, for $839 million. Upon the deal’s completion, Blue Yonder said it will be well positioned to serve customers’ needs across planning, execution, commerce and networks. Founded in 2002 by Greg Brady, One Network has 150,000 trading partners. One Network’s customers include PepsiCo, Tom Thumb, Albertson’s, Aldi, Bayer Crop Sciences, Telstra, XPOLogistics, Ghana’s Ministry of Health and the U.S. Department of Defense. The deal will mark around $1 billion in M&A investments by Blue Yonder since the fourth quarter, including flexis AG, which offersfactory planning, sequencing and slotting capabilities, and Doddle, which provides returns management and reverse logistics solutions. 

Expected Closing: Q2 or Q3 2024 if it clears regulators

CPS Energy buys gas plants in Corpus Christi, Laredo From Talen Energy for $785M

Deal Description: CPS Energy and Talen Energy Corp. announced March 27 an agreement for CPS Energy to acquire Talen’s 1,710-megawatt generation portfolio located in the south zone of the Electric Reliability Council of Texas (ERCOT) market for $785 million. The assets include natural gas plants in Corpus Christi and Laredo. Under the deal terms, CPS Energy will acquire all assets associated with Talen’s 897 megwatt Barney Davis and 635 megawatt Nueces Bay natural gas-fired generation facilities, both in Corpus Christi, and its 178 megawatt natural gas-fired generation facility in Laredo. The action supports CPS Energy’s generation plan, approved in 2023 by its board. It secures an additional 1,710 megawatts of power for the greater San Antonio community and will be available as soon as this summer. The addition of the units aligns with the generation plan, which includes the retirement of older units and the addition of a blend of gas, solar, wind and energy storage. CPS Energy’s Vision 2027 plan includes its generation plan that contemplates the retirement of 2,249 megawatts of older and inefficient dispatchable generation capacity before 2030. CPS Energy has added 730 megawatts of solar energy and 50 megawatts of energy storage to date as part of its generation plan, with an additional megawatts of energy storage RFP in the works. The plants in Corpus Christi and Laredo are expected to be operational for the next 25 years.

Expected Closing: Q2 2024

CPS Energy’s Financial Advisor: J.P. Morgan

CPS Energy’s Outside Counsel Dykema Gossett

Talen’s Financial Advisor: RBC Capital Markets

Talen’s Outside Counsel: Kirkland & Ellis led by corporate partners Bill Benitez, Josh Teahen, Andy Calder and Blake Longoria and associates Scott Myers and Shelby Morgan; tax partner Mark Dundon; energy regulatory partner Drew Stuyvenberg and associate Cassidy Hall; and debt finance partners Lucas Spivey and Osaro Aifuwa.

WhiteWater/I Squared, MPLX, Enbridge combine pipelines in JV, Enbridge contributes $350M

Deal Description: WhiteWater/I Squared, MPLX and Enbridge Inc. announced March 26 they entered into a definitive agreement to combine the Whistler and Rio Bravo pipeline projects in a newly formed joint venture. Terms weren’t disclosed, although Enbridge said separately it will contribute its wholly-owned Rio Bravo project and $350 million in cash to the JV and will fund the first $150 million of the post-closing capex to complete the project. After closing, the ownership in the JV will be WhiteWater/I Squared (50.6%), MPLX (30.4%) and Enbridge (19%). Enbridge will keep a 25 percent economic interest in the Rio Bravo as part of its investment. WhiteWater will continue to operate the JV’s assets, including the Rio Bravo. The platform will provide benefits to the JV’s customers by connecting Permian supply to LNG export markets via Rio Bravo’s connectivity with NextDecade’s Rio Grande LNG facility. Its creation also is expected to support the development of pipeline projects connecting Permian supply to export markets along the Gulf Coast. Miami-based I Squared is an infrastructure investment manager with more than $38 billion in assets under management. WhiteWater is based in Austin while publicly traded Enbridge is headquartered in Calgary, Alberta, and MPLX is based in Findlay, Ohio.

Expected Closing: Q2 2024 if it clears regulators

Outside Counsel to WhiteWater/I Squared’s ISQ Whistler Holdings: Simpson Thacher with a team including Houston partners Shamus Crosby, Katy Lukaszewski and Breen Haire and associates Aaron King, Andrew Kingsbury and Andrew Scattergood (M&A); Houston partner Adam Arikat and associate Andrew Mandelbaum (tax); and partners Peter Guryan in New York and Étienne Renaudeau in London/Brussels and associate Jamie Logie in New York (antitrust).

MPLX’s Outside Counsel: Morgan Lewis led by partners Sameer Mohan (Houston) and Conor Larkin (Philadelphia) and associate Tara McElhiney (Houston) along with a team including associate Kelsey Warren (Houston), partners Harry Robins (New York), Omar Shah (London), Michael Masling (Frankfurt) and associate Jack Ashfield (London); and partner Elisa McEnroe (Philadelphia) and associate Julia Jacovides (Philadelphia).  

Enbridge’s Outside Counsel: Vinson & Elkins with a team led by Doug Bland, Danielle Patterson, Michael Zarcaro and Vestita Zumot with assistance from Rob Vezina, Paul Tamburro, Ben Zeter, Sebastian Devora and Garrett Finch. Others included Damien Lyster, Suzanne Clevenger, Jay Seegers, Ryan Hoeffner and Ethan Borrasso (energy regulatory); Ryan Carney, Gary Huffman and Tyler Underwood (tax); Fry Wernick, Elizabeth McIntyre, Nick Shum, Brittany Harwood and Pete Thomas (litigation); Sarah Mitchell, Alexander Baker and Judy Park (insurance); Alex Bluebond and Andrew Cox (employment/labor); Joo Lee, Morgan Whittlesey and Matt Green (executive compensation/benefits); Brandon Tuck and Audrey Doane (environmental); and Darin Schultz (finance).

Southwest Airlines acquires SAFFiRE Renewables

Deal Description: Southwest Airlines Co. announced March 28 the acquisition of SAFFiRE Renewables as part of the investment portfolio of its wholly owned unit Southwest Airlines Renewable Ventures. Terms weren’t disclosed. SARV is dedicated to creating more opportunities for Southwest to obtain scalable sustainable aviation fuel (SAF). SAFFiRE is part of a project supported by the Department of Energy to develop and produce scalable renewable ethanol that can be upgraded into SAF. SAFFiRE expects to use technology developed at the DOE’s National Renewable Energy Laboratory to convert corn stover, a widely available agricultural residue feedstock in the U.S., into renewable ethanol. Southwest first invested in SAFFiRE during phase one of the pilot project in 2022. The acquisition of SAFFiRE comes shortly after Southwest announced an investment in LanzaJet, a SAF technology provider and producer with an ethanol-to-SAF technology and the world’s first ethanol-to-SAF commercial plant.

Southwest’s Outside Counsel: Vinson & Elkins led by partner Chris Rowley with assistance from senior associate John Sager and associates Tessa Krieger-Carlisle and Micah Tardy. Other team members were partner Hilary Preston, counsels Rajesh Patel and Erik Shallman and senior associate Alexa Chally (technology transactions/IP); partner David Peck and senior associate Lauren Meyers (tax); partner Sean Becker and associate Andrew Cox (employment/labor); partner Shane Tucker (executive compensation/benefits); partner Jamie Tabb and senior associate John Satira (litigation); partner Bailey Pham and associate Bryce Imhoff (finance); and partner Danielle Patterson (energy transactions/projects).

Notes: V&E also counseled Southwest on its $30 million investment in LanzaJet in February.

Beacon completes divestment

Deal Description: Houston-based Beacon Offshore Energy announced March 29 the completion of the sale of its non-operated field interests in the deepwater Gulf of Mexico in accordance with a previous agreement with GOM 1 Holdings Inc., an affiliate of O.G. Oil & Gas Ltd. Terms weren’t disclosed. The divestment includes Beacon’s 18.7 percent of the Buckskin producing field, 17 percent of the Leon development, 16.15 percent of the Castile development, 0.5 percent of the the Salamanca FPS/lateral infrastructure and 32.83 percent of the Sicily discovery. Beacon chairman and CEO Scott Gutterman said with the completion of the sale, the company will be able to allocate all of its focus and resources to its deep inventory of operated properties, including Shenandoah and Winterfell, and expects to deliver material production and cash flow growth beginning in the second quarter and continuing through 2025.

Beacon’s Financial Advisor: Jefferies

Beacon’s In-House Counsel: Lesa Carter is Beacon’s VP of compliance and legal affairs

Beacon’s Outside Counsel: Kirkland & Ellis led by corporate partners R.J. Malenfant, Chad Smith, Rhett Van Syoc, Jonathan Strom and Daniel Cadis; debt finance partner Andy Veit and associate Brittany Taylor; tax partners Mark Dundon and Joe Tobias; and environmental partner Jonathan Kidwell and associate Alex Noll.

Align Capital buys two tax consultants

Deal Description: Dallas-based Align Capital Partners (ACP) announced March 26 it acquired and merged two specialty tax consultants: Cost Segregation Services (Baton Rouge, La.) and TaxIncennovations (Houston). Terms weren’t disclosed. ACP managing partner Rob Langley, operating partner Ervin Cash, VP Dave Modi and associate Ben Bryles worked alongside partner Matt Beesley on the transactions.

CSSI’s Financial Advisor: XLCS Partners in Nashville

ACP’s Outside Counsel: Calfee, Halter & Griswold in Cleveland

Abrigo acquires TPG Software

Deal Description: Austin-based Abrigo, a portfolio company of Carlyle and Accel-KKR, announced March 27 it acquired TPG Software, a Houston investment accounting and management company. Terms weren’t disclosed. The acquisition marks the latest in a series of investments by Abrigo to help financial institutions streamline risk and accounting management processes while ensuring internal and regulatory compliance.

Abrigo’s Outside Counsel: DLA Piper partner Joydeep Dasmunshi

TPG Software’s Financial Advisor: D.A. Davidson & Co.

TPG Software’s Outside Counsel: Bob Remy in Houston

CAPITAL MARKETS/FINANCINGS

Rexford Industrial Realty raises $1.84B in CapM transactions

Deal Description: Los Angeles-based Rexford Industrial Realty Inc. announced March 26 that it priced an $841 million underwritten public offering of nearly 17.2 milion shares of its common stock in connection with a forward sale agreement. The shares were sold to an existing long-only investor based on the West Coast at a price per share of $48.95. The closing was expected to occur on March 28. BofA Securities is acting as the sole book-running manager for the offering. The company won’t receive any proceeds from the sale of shares by the forward purchaser. Separately, the company also announced that its operating partnership priced its offering of $500 million in exchangeable senior notes due 2027 and $500 million in exchangeable senior notes due 2029. The exchangeable notes will be fully and unconditionally guaranteed, on a senior, unsecured basis, by the company. The operating partnership also granted the initial purchasers of the exchangeable notes a 30-day option to purchase up to an additional $75 million in 2027 notes and $75 million in 2029 notes to cover over-allotments. The completion of the offering of the common isn’t contingent on the completion of the offering of the notes and visa versa.

Rexford’s Outside Counsel: Hunton Andrews Kurth led by James Davidson, Anna Page, Zach Roop, Kate Saltz, Kendal Sibley, Rob Smith, Patrick Tricker, Elizabeth White and Tianlu Zhang

Other Parties’ Counsel: Latham & Watkins

Marathon Oil prices $1.2B senior notes offering

Deal Description: Marathon Oil Corp. announced March 26 that it priced a $1.2 billion offering of senior notes, consisting of $600 million in 5.300% senior notes due 2029 and $600 million in 5.700% senior notes due 2034. The company intends to use the net proceeds from the offering, together with cash on hand, to fund the repayment in full of outstanding borrowings under its term loan facility. The offering was expected to close on March 28. J.P. Morgan Securities, Morgan Stanley & Co., Mizuho Securities USA, MUFG Securities Americas Inc. and SMBC Nikko Securities America Inc. are book-running managers for the offering.

Marathon’s Outside Counsel: Kirkland & Ellis led by capital markets partners Julian Seiguer and Atma Kabad and associates Robbie Dillard and Gabe Lozano; and corporate associate Samiya Javed

Underwriters’ Outside Counsel: Cravath, Swaine & Moore

Matador Resources prices $347M common stock, $900M senior notes offering

Deal Description: On March 25, Matador Resources Co. announced the pricing of its underwritten public offering of 5.25 million shares of its common stock. The estimated gross proceeds before offering fees and expenses are about $347.3 million. The equity offering was expected to close by March 28.  Matador intends to use the net proceeds from the equity offering for general corporate purposes, which may include, among other things, the funding of acquisitions and the repayment of borrowings outstanding under Matador’s revolver. On March 26, Matador also announced the pricing of its upsized offering of $900 million of its 6.500% senior notes due 2032. The notes offering is expected to close by April 2.  Matador intends to use the net proceeds from that offering to repurchase $699.2 million outstanding of its 5.875% senior notes due 2026 through a cash tender offer and to pay related premiums, fees and expenses in connection with the tender offer and for general corporate purposes, which may include the funding of acquisitions and the repayment of borrowings outstanding under Matador’s revolver.

Matador’s Outside Counsel: A Texas team from Baker Botts including, from corporate, partner Preston Bernhisel and associates Rusty Shellhorn, Maddie Boezinger and Chelsea Johnson; on finance, partner Luke Weedon and senior associate Brittany Simington; and on tax, partner Steve Marcus.

Underwriters/Initial Purchasers Counsel: Latham & Watkins with a corporate team led by Houston partner Ryan Maierson with associates Michael Pascual, Ziyad Barghouthy, Brian Bruzzo, Carol Bale and David Lee. Advice was also provided on tax matters by Houston partner Jim Cole with associate Molly Elkins; and on environmental matters by Los Angeles/Houston partner Josh Marnitz with associate Phil Goldberg.

Crescent Energy prices $700M private placement of senior notes

Deal Description: Crescent Energy Co. announced March 19 that its indirect subsidiary Crescent Energy Finance priced its previously announced private placement of $700 million in 7.625% senior notes due 2032. The notes mature on April 1, 2032 and pay interest at 7.625% per year payable on April 1 and Oct. 1 of each year. The first interest payment on the notes will be made on Oct. 1, 2024. The offering was expected to close on March 26. The issuer intends to use net proceeds from this offering, together with additional borrowings under the revolving credit facility, to purchase for cash any and all of its outstanding 7.250% senior notes due 2026 and fund the full redemption of any 2026 notes not purchased in the tender offer.

Crescent’s Outside Counsel: Vinson & Elkins with a corporate team led by partners Doug McWilliams, Jackson O’Maley and David Wicklund and senior associate Alex Lewis, with assistance from associates Nate Richards, Chase Browndorf, Autumn Simpson, Kylie Paradowski and Chris Chiavaroli. Also advising were partners Lina Dimachkieh and Wendy Salinas and associate Jeff Slusher (tax); and partners David D’Alessandro and Dario Mendoza and associate Cassandra Zarate (executive compensation/benefits).

Outside Counsel to Initial Purchasers (led by BofA Securities): Simpson Thacher including partners David Azarkh in New York and Brian Rosenzweig and associates Richie Ragusa, Ryan Poché and Andrew Scattergood in Houston; counsel Michael Mann (tax); associate Rachelle Broida (IP); associate Pasco Struhs (executive compensation and employee benefits); senior counsel Michael Isby and counsel Deepa Sarkar (environmental); and counsel Jennie Getsin (Blue Sky).

OTHER MATTERS

MNC Capital Partners, a Dallas family office headed by Mark Gottfredson, said March 25 it increased its takeover offer for sporting goods and ammunition manufacturer Vista Outdoor to $37.50 per share in cash, or $3 billion. Vista’s stock was trading below $30 per share when MNC made its initial proposal on Feb. 19, MNC noted, and said its new proposal values Revelyst at $1.1 billion, a 93 percent premium to Vista’s $570 million implied standalone value from its investor presentation Feb. 1. A MNC transaction wouldn’t be subject to a financing contingency or review from Committee on Foreign Investment in the U.S., MNC said. Vista said it received the new offer and its board was reviewing it. The Anoka, Minn.-based Vista had rebuffed MNC’s earlier offer, claiming the bid significantly undervalued the company. Vista announced in October it’s selling its sporting goods business to privately held Czech defense and civil manufacturing firm Czechoslovak Group for $1.91 billion. Gottfredson resigned from Vista’s board in January. Morgan Stanley & Co. is financial advisor to Vista and Cravath, Swaine & Moore is legal advisor. Moelis is financial advisor to the independent directors of Vista and Gibson, Dunn & Crutcher is legal advisor.

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Sidley Austin said March 28 it represented NRG Energy Inc. on its power purchase agreement to supply the City of Houston with 100 percent renewable electricity. Swift Current Energy’s 260 megawatt Tres Bahias Solar project, located on the Gulf Coast of Texas, is now powering City of Houston facilities through a PPA with an affiliate of NRG Energy. The Sidley deal team members were partners Robert Stephens and Jessica Adkins in Houston. Vinson & Elkins and Husch Blackwell represented Swift Current Energy and Willkie Farr & Gallagher and Jackson Walker represented Morgan Stanley Renewables Inc.

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Kendra Scott, an Austin-based jewelry brand backed by Berkshire Partners, is seeking new capital, according to a March 25 report by Axios. Jackson Walker counseled Kendra Scott on the investment from Berkshire in 2017.

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EnCap Investments is looking to sell Uinta-focused XCL Resources, Reuters reported March 28, citing sources, who told the news agency that the company could be worth at least $2.8 billion, including debt. 

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Phillips 66 is exploring a sale of its quarter stake in the Rockies Express pipeline, Reuters reported, citing sources. The stake’s book value is $451 million and a buyer would have to assume more than $500 million in associated debt, meaning the stake could fetch an enterprise value of well over $1 billion, the sources told the news agency.