CDT Roundup: 19 Deals, 13 Firms, 239 Lawyers, $23.9B

Jeff Dinerstein, a partner at Morgan Lewis in Houston, specializes in death deals –– specifically, death care and funeral parlors.

So the Corporate Deal Tracker was not at all surprised that he was the lead counsel on the $1.2 billion buyout of Park Lawn Corp. by Viridian Acquisition Inc., an affiliate of Homesteaders Life Co. and Birch Hill Equity Partners Management Inc.

It’s been quite a journey for Park Lawn, which has been involved in countless acquisitions of funeral homes across the country, including Texas, including Integrity Funeral Care and Wayne Boze Funeral Home.

Dinerstein, who had stints at Jones Day (over four years) and Haynes Boone (almost 11 years), has worked on other deals, of course.

In 2022, he counseled Firebird Bulk and Phoenix Oil on their sale to Adams Resources & Energy Inc.’s GulfMark Asset Holdings Inc. for $33 million. And so far this year, Dinerstein advised Evolution Strategy Partners-backed Ethoscapes, one of the largest landscaping solutions providers in Houston, on its acquisition of Outdoor Development and Houston Landscapes Unlimited for undisclosed terms.

Dinerstein has counseled Evolution on deals before, including Ethoscapes’ acquisition of Champions Hydro-Lawn, which won the Association of Corporate Growth’s Houston deal of the year last year.

The week ending June 11 saw a total 19 Texas-related transactions valued at $23.9 billion, which pairs nicely with the prior week’s vintage of 12 deals at $34.5 billion. For the same period last year we reported 19 transactions valued at $8.5 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
16-Aug-25	13	$26,405	12	149	7	$3,180	6	$23,225
09-Aug-25	19	$16,066	16	245	15	$11,307	4	$4,759
02-Aug-25	17	$19,480	11	104	13	$18,002	4	$1,478
26-Jul-25	15	$3,164	12	96	12	$3,0023	3	$162
19-Jul-25	14	$6,080	14	97	9	$4,165	5	$1,915
12-Jul-25	15	$13,012	14	208	12	$10,902	3	$2,110
05-Jul-25	9	$15,778	8	91	4	$7,280	5	$8,498
28-Jun-25	13	$7,777	8	154	7	$2,031	6	$5,746
21-Jun-25	16	$5,984	10	113	11	$3,087	5	$2,897
14-Jun-25	9	$478	8	133	6	0	3	$478
07-Jun-25	16	$26,210	11	196	11	$24,744	5	$1,466
31-May-25	19	$23,381	11	166	12	$18,665	7	$4,717
24-May-25	15	$24,033	11	121	13	$23,624	2	$409
17-May-25	16	$21,760	12	145	11	$18,615	5	$3,145
10-May-25	24	$33,175	16	206	19	$30,765	5	$2,410
03-May-25	11	$4,249	13	90	11	$2,226.5	2	$2,022.5
26-Apr-25	12	$8,787	9	168	9	$6,011	3	$2,776
19-Apr-25	11	$8,097	7	138	9	$7,985	2	$112
12-Apr-25	13	$2,392	8	152	10	$2,065	3	$327
05-Apr-25	19	$27,762	15	188	16	$25,473	3	$2,289
29-Mar-25	21	$8,188	10	258	16	$4,125	5	$4,064
22-Mar-25	19	$6,485	14	231	15	$4,128	4	$2,857
15-Mar-25	13	$13,737	13	151	10	$9,932	4	$3,805
8-Mar-25	7	$2,234	5	66	5	$224	2	$2,100
1-Mar-25	11	$3,050	8	75	10	$2,550	1	$500
24-Feb-25	12	$16,397	7	149	6	$6,635	6	$9,862
17-Feb-25	17	$12,136	13	134	10	$9,411	2	$2,725
10-Feb-25	14	$7,154	9	179	9	$4,950	5	$2,204
3-Feb-25	16	$10,068	7	200	11	$7,553	5	$2,515
25-Jan-25	14	$10,261	10	125	9	$2,207	5	$8,054
18-Jan-25	19	$7,382	15	316	12	$2,300	7	$5,082
11-Jan-25	21	$33,560	16	187	16	$32,521	5	$1,039
4-Jan-25	9	$6,827	9	80	9	$6,827	0	0
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	23	$26,616	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

Apollo leads $11B investment in Intel JV in Ireland

Deal Description: Intel Corp. and Apollo announced June 4 an agreement in which Apollo-managed funds and affiliates will lead an investment of $11 billion to acquire from Intel a 49 percent equity interest in a joint venture entity related to Intel’s Fab 34 plant in Ireland. The transaction represents Intel’s second semiconductor co-investment program arrangement, a funding approach designed to create financial flexibility to accelerate its strategy to invest in manufacturing operations while maintaining a strong balance sheet below its cost of equity. Located in Leixlip, Fab 34 is Intel’s high-volume manufacturing facility designed for wafers using the Intel 4 and Intel 3 process technologies. To date, Intel has invested $18.4 billion in Fab 34. The transaction allows Intel to unlock and redeploy to other parts of its business a portion of this investment while continuing the build-out of Fab 34. Construction of Fab 34 is largely complete, and manufacturing of Intel Core Ultra processors on Intel 4 technology began there in September.

Expected Closing: Q2 2024

Intel’s Outside Counsel: Skadden and Eversheds Sutherland. From Skadden: A team including energy and infrastructure projects partners Aryan Moniri (Washington, D.C.) and Nike Opadiran (Washington, D.C.), counsel Thomas Logan (New York) and associates Emma Jiang (Houston), Yvette Sokei (Houston), Mike Pierce (London), John Endresen (Washington, D.C.) and Seung Moon (Daniel) Lee (New York); M&A partner Christopher Bors (Palo Alto) and counsel Christopher Hammond (Palo Alto); capital markets partner Michelle Gasaway (Los Angeles); and corporate associates Michelle Cho (Palo Alto), Ho Yee Cynthia Lam (Palo Alto) and Maggie Yiin (Palo Alto).

Apollo’s Outside Counsel: Paul, Weiss, Rifkind, Wharton & Garrison

Apollo Co-Investors’ Outside Counsel: Latham & Watkins with a corporate team led by New York partner Gary Boss, Los Angeles/New York partner Jeff Greenberg, New York partner Chirag Dedania and Bay Area partner Tad Freese with associates Nicole Goldman, Taylor Owens, Jesse Van Genugten, Taylor López (in Houston), Jacob Kempf, and Emilie Cullen. Advice was also provided on tax matters by New York partner Bora Bozkurt with associate Michael Yu; on ERISA matters by Washington, D.C., partner Adam Kestenbaum and Los Angeles/New York counsel Aryeh Zuber; on sanctions/anti-money laundering matters by Washington, D.C., partner Damara Chambers and counsel Andrew Galdes; and on margin stock matters by New York counsel Pia Naib.

Intel’s Financial Advisor: Goldman Sachs & Co.

Waste Management buys Stericycle for $7.2B

Deal Description: Houston garbage giant Waste Management Inc. announced June 3 it agreed to acquire medical refuse provider Stericycle for $7.2 billion, including $1.4 billion of net debt. The $62 per share cash price represents a 24 percent premium over Stericycle’s 60-day volume weighted average price as of May 23, which was the last trading day before the Wall Street Journal reported that Stericycle was considering a potential sale. The transaction is expected to close as early as the fourth quarter if it clears regulators and a majority of the holders of Stericycle’s outstanding common shares. Centerview Partners advised WM, which used Vinson & Elkins and Baker Botts as outside counsel. Latham & Watkins is advising Stericycle. For more, click here.

Viridian takes out Park Lawn for $1.2B

Deal Description: Park Lawn Corp., the largest publicly traded Canadian-owned funeral, cremation and cemetery provider, announced June 3 that it entered into an arrangement agreement with Viridian Acquisition Inc., an affiliate of Homesteaders Life Co. and Birch Hill Equity Partners Management Inc., in which it will be acquired $26.50 per share in an all-cash transaction valued at $1.2 billion, including Park Lawn’s net debt. The consideration represents a 62.1 percent premium over the closing price of the shares on the Toronto Stock Exchange on June 3, the last trading day prior to the announcement of the transaction, and a 56.4 percent premium over the 20‐day volume weighted average trading price per share on the TSX ending June 3. The deal must clear courts, regulators and at least two‐thirds of the votes cast by the shareholders present in person or represented by proxy at the meeting.

Special Committee’s Financial Advisor: National Bank Financial

Special Committee’s/Park Lawn’s Legal Advisors: Bennett Jones; and Morgan, Lewis & Bockius, including partner Jeff Dinerstein and a team of lawyers including partners Lisa Barton and Randy McGeorge; of counsel Melissa Brown and associates Kelsey Warren and Alyssa Cavallo; partners Anita Polott, Doug Crisman and Kristin Altoff and associate Kiran Jassal; partner Casey August; partner David Brenneman and associate Terresa Adams; partner Stephen Fitzgerald; and partner Thomas Wallace.

Viridian‘s Financial Advisor: BMO Capital Markets

Homesteaders’ Legal Advisors: Torys, Faegre Drinker Biddle & Reath and Paul Weiss Rifkind Wharton & Garrison

Birch Hill’s Legal Advisors: Stikeman Elliott

ProPetro acquires Aqua Prop for $35.6M

Deal Description: ProPetro Holding Corp. announced June 3 the acquisition of Aqua Prop, a provider of cost-effective wet sand solutions. The all-cash acquisition, initially valued at $35.6 million net of working capital, advances ProPetro’s commitment to delivering more integrated and industrial solutions while adding value for all stakeholders. The deal structure includes cash consideration, future earnout incentives and potential growth capex considerations tailored to support and align with Aqua Prop and ProPetro growth targets and objectives. ProPetro is a Midland, Texas-based provider of integrated completion services to companies that explore and produce North American unconventional oil and natural gas resources.

ProPetro’s Financial Advisor: PPHB

ProPetro’s Outside Counsel: Vinson & Elkins with a team led by partner Mike Marek with assistance from Chandler Jones, Shelby Shearer, Nick Priebe, Lina Dimachkieh, Allyson Seger, Megan Menniti, Ryan Bullard, Alex Bluebond, Ashley Plunk, David D’Alessandro, Katherine Mull, Matt Green, Matthew Dobbins, Kelly Rondinelli, Darin Schultz and David Albano.

Aqua Prop’s Outside Counsel: Locke Lord

TA Associates invests in Solarity

Deal Description: Kirkland & Ellis said June 5 it advised TA Associates, a private equity firm, on its strategic growth investment in Solarity, a provider of automated clinical data processing solutions for acute and ambulatory healthcare providers. Terms weren’t disclosed on the deal, which was announced June 4. Solarity management and existing private equity partner BV Investment Partners will both roll substantial ownership stakes. TA has raised $65 billion in capital to date. BV has invested about $5.5 billion.

From Kirkland: The team was led by corporate partners Sean Kramer and Jared Maher and associates Jeffrey Siwik (who is in Austin) and Ines Tzolov; debt finance partner Brian Ford; and tax partner Devin Heckman.

Novacap’s Stratus Networks acquires iFiber

Deal Description: Stratus Networks Inc., a portfolio company of Novacap and a provider of business communications solutions in the Midwest, said June 4 it acquired almost all of the assets and business of  iFiber. Over the last 15 years, iFiber has established and expanded a fiber network to communities across northwest Illinois. The acquisition underscores Stratus Networks’ dedication to expanding its fiber footprint and providing cutting-edge services to businesses of all sizes. Novacap, a Montreal-based private equity firm founded in 1981, manages more than $5.8 billion in committed capital across a variety of sectors including digital infrastructure, TMT, industries and financial services. Novacap has invested in more than 100 platform companies and completed over 150 add-on acquisitions.

Novacap’s Outside Counsel: Austin lawyers from Baker Botts including, from corporate: Neil Torpey (who also offices in New York), Jenna Kabrich and Amy Jiang; and on finance: Clint Culpepper, Dela Peimani and Morgan Copher.

Deep Blue Midland Basin buys Lagoon Operating – Midland

Deal Description: Kirkland & Ellis said June 4 it advised Lagoon Operating – Midland, a portfolio company of Macquarie Infrastructure Partners, on its definitive agreement to be acquired by The Woodlands- and Midland-based Deep Blue Midland Basin in a joint venture between Diamondback Energy and Five Point Energy. Terms weren’t disclosed on the deal, announced June 3. Lagoon’s assets expand Deep Blue’s existing recycling capabilities and are underpinned by a portfolio of acreage dedications and MVCs from producers in the Midland Basin. Deep Blue increased its existing credit facility by $150 million, the proceeds of which were used to finance the acquisition.

From Kirkland: The team was led by corporate partners Kyle Watson; and tax partner David Wheat; and included corporate associates Colleen Haile and Kersten Kober.

Deep Blue’s Outside Counsel: Jackson Walker and Skadden, Arps, Slate, Meagher & Flom (on the accordion), including banking partner Tracey Chenoweth and counsel Sean Francis Cornely in New York

Mercuria invests in Black Bayou Energy Hub

Deal Description: Mercuria, one of the world’s largest independent energy and commodities groups, announced June 6 an investment in Black Bayou Energy Hub, an underground salt dome energy storage company based in Lafayette, La. Terms weren’t disclosed. Black Bayou is developing a large-scale, underground energy storage facility in Cameron and Calcasieu Parishes in Louisiana, near the Louisiana/Texas border on the U.S. Gulf Coast. Mercuria said its investment in Black Bayou will progress the development of critical, flexible and reliable energy infrastructure needed to support the transition to a sustainable global energy future. 

Mercuria’s Outside Counsel: Vinson & Elkins with a team led by partners Doug Bland and Damien Lyster with assistance from associate Ryan Hoeffner (energy regulatory); senior associate Paul Tamburro and associate Destiny Alliniece (energy transactions/projects); partner Todd Way and senior associate Dan Henderson (tax); and counsel Hal Taylor (real estate).

Platform Partners completes investment in Alliance Strategies

Deal Description: Latham & Watkins said June 5 it advised Houston’s Platform Partners on its investment in Alliance Strategies Inc., a platform for talent recruitment and cultural exchange. Terms were not disclosed on the deal, which was announced May 30. Headquartered in Austin since its founding in 1989, Alliance now operates in Australia, Ireland, Mexico, South Africa, Spain and the UAE as Alliance Abroad and GeoVisions.

From Latham: A team led by Houston partners Scott Miller and Bruce Herzog with associates Vera Bespalova and Christina Schrantz. Advice was also provided on tax matters by Houston partners Bryant Lee and Jared Grimley with associate Christine Mainguy; on U.S. data privacy matters by Houston counsel Robert Brown with associate Dyllan Brown-Bramble; on EU/UK data privacy matters by London counsel Danielle van der Merwe with associate Victoria Wan; on benefits matters by Houston counsel Krisa Benskin; and on labor matters by Chicago partner Nineveh Alkhas with associate Jane Jeong.

Constellation Wealth Capital invests in Avior

Deal Description: Chicago-based Constellation Wealth Capital has agreed to invest in Plano-based Avior Wealth Management, according to Citywire June 3. Terms of the minority investment were not disclosed. Avior boasts $4.1 billion under management. The deal is one of three announced by Constellation in the last few weeks, including one closed in April and announced recently with Dallas’s Requisite Capital Management. Constellation is majority-owned by Heckenberg and minority-backed by Black Owl Capital Investments, the family office for Blue Owl Capital co-founders and co-chief executives Doug Ostrover and Marc Lipschultz.

Constellation’s Outside Counsel: Gibson Dunn with a corporate team led by partners Michael Piazza and Andrew Friedman and included of counsel Tyler Cox and associates Houston Morgan, Valy Menendez and Minnie Che. Partner Chad Nichols and associate Robert Bollinger advised on financing, partner Michael Cannon and associate Blake Hoerster on tax aspects, partner Sean Feller and associate Kayoko Fong on benefits and partner Kevin Bettsteller on regulatory. Partner Carrie LeRoy and associate Andrew Hartman assisted on IP and partner Cassandra Gaedt-Sheckter and associate Ruby Lang on data privacy aspects.

Vista, Insight back aviation software provider Portside

Deal Description: Willkie Farr & Gallagher said June 6 it represented Insight Partners on its minority investment in Portside, a provider of software solutions for the business aviation industry. Terms weren’t disclosed. The strategic growth investment was led by Vista Equity Partners, an investment firm focused exclusively on enterprise software, data and technology-enabled businesses. Portside intends to use the new funding to drive continued growth through product and customer expansion strategies. Portside’s cloud-based software solutions power a range of flight operations for scheduled and unscheduled aircraft operators, including charter, fractional, corporate, medical, industrial, government, helicopter, military and cargo fleets. The company’s products include tools to enable private aviation operations, such as flight and crew scheduling, recordkeeping, safety reporting, compliance and back-office business and administrative functions, such as budgeting, invoicing and human resources. Vista’s investment was made by the firm’s Endeavor Fund, which provides capital and support to enterprise software, data and technology-enabled companies that have achieved at least $10 million in recurring revenue. Ben Benson, managing director at Vista, will join Portside’s board.

From Willkie: The team was led by partner Matthew Haddad in New York and associate Joe Laurel in Houston. 

Portside’s Advisors: Jefferies and Lowenstein Sandler

Vista’s Outside Counsel: Kirkland & Ellis

Amwins acquires Kilpatrick Cos.

Deal Description: Amwins, a distributor of insurance products and services, announced June 3 its acquisition of Kilpatrick Cos., a Houston-based general agency specializing in employee and individual benefits. Terms weren’t disclosed. As one of the largest general agencies in the Texas market, Kilpatrick will join Amwins Connect, a national general agency that provides health and ancillary insurance solutions to brokers and consultants across the U.S. Based in Charlotte, N.C., Amwins has 7,400 employees, operates through more than 155 offices globally and handles premium placements in excess of $33 billion annually.

Kilpatrick’s Outside Counsel: Gibson, Dunn & Crutcher with a corporate team led by partner Michael Piazza and including of counsel Adam Whitehouse and associates Alana Siegel and Mariana Lozano. Partner Michael Cannon and associate Duncan Hamilton are advising on tax matters, partner Sean Feller and associate Zoe Wachter on benefits, of counsel Lynn Anne Shapiro on real estate and associate Andrew Hartman on IP.

CAPITAL MARKETS/FINANCINGS

Berkshire Hathaway’s Burlington Northern Santa Fe prices $1.3B debenture offering

Deal Description: Burlington Northern Santa Fe on June 3 priced a public offering of $1.3 billion of its 5.500% debentures due March 15, 2055. The company intends to use the net proceeds for general corporate purposes. The book-running managers for the offering are BofA Securities, Inc., Citigroup Global Markets Inc., Goldman Sachs & Co. and Morgan Stanley & Co. Burlington Northern Santa Fe, is engaged primarily in freight railroad transportation through its principal operating subsidiary, BNSF Railway Co., which operates one of the largest railroad networks in North America with around 32,500 route miles of track in 28 states and three Canadian provinces. Burlington Northern Santa Fe is a wholly owned subsidiary of Berkshire Hathaway Inc.

Outside Counsel to the Underwriters: Houston attorneys from Baker Botts including, from corporate, Carina Antweil, Lakshmi Ramanathan, Chandler Block and Blake Vick; on tax: Jon Lobb and Michael Kovacich; and on environmental: Elizabeth Singleton.

Commonwealth Edison issues $800M in first mortgage bonds

Deal Description: Winston & Strawn said June 3 it represented Goldman Sachs & Co., US Bancorp and Wells Fargo Securities as book-running managers in connection with the registered public offering of $800 million of First Mortgage Bonds by Commonwealth Edison Co. comprised of $400 million 5.300% First Mortgage Bonds due 2034 and $400 million 5.650% First Mortgage Bonds due 2054.

From Winston: Houston partner Justin Hoffman led the team, which included New York partner Rachel Ingwer with assistance from counsel Oriana Pietrangelo and associates Dominique Fry and Del Todd

Saturn Oil & Gas upsizes $650M offering of senior secured notes

Deal Description: Saturn Oil & Gas Inc. announced June 5 that it priced its previously announced private placement of US$650 million in 9.625% senior secured second lien notes due 2029, upsized from its initially announced amount. The offering is expected to close on June 14. The notes will be secured by second priority perfected liens on substantially all of the company’s assets and will be subject to quarterly mandatory redemptions. Initially, the notes will not be guaranteed, but in the future they may be, on a senior secured second lien basis, by any future restricted subsidiaries of the company. Goldman Sachs & Co., National Bank of Canada Financial Markets, ATB Capital Markets and Echelon Capital Markets are managers for the offering.

Initial Purchasers’ Outside Counsel: Latham & Watkins with a capital markets team led by Austin partners Michael Chambers, David Miller and Samuel Rettew with associates Paul Robe, Celia Mishra, and Carol Bale. Advice was also provided on tax matters by Houston partner Bryant Lee with associate Dominick Constantino; and on environmental matters by Los Angeles/Houston partner Josh Marnitz with associate Nolan Fargo.

Saturn’s Outside Counsel: Baker Botts including, from corporate: Joshua Davidson, Carina Antweil, Andrew Schulte, Austin Lee and Talha Chaudhry in Houston and Amy Jiang in Austin; and on finance: Clint Culpepper in Austin, Brittany Simington in Dallas, Dela Peimani in Austin and Morgan Copher in Dallas.

Diversified Energy closes $610M asset-backed securitization refinancing

Deal Description: Diversified Energy Co. announced June 3 that on May 30 the company closed on an asset-backed securitization refinancing, creating the ABSVIII note. ABSVIII note amount was $610 million gross, with net proceeds of $592 million, including fees, expenses and interest reserve. It was a blended fixed coupon of 7.28% with an expected maturity of March 2033. Diversified will use the proceeds to repay the outstanding principal of the previously issued ABSIII and ABSV notes, retiring those notes from its outstanding debt. The additional proceeds will be used to reduce outstanding borrowings under its revolving credit facility and for general corporate purposes. As previously announced on March 19, the company intends to fund a portion of the acquisition of the working interests from Oaktree Capital Management using its revolver. The transaction is backed by collateral securing the ABSIII and ABSV notes representing working interest in proved developed producing wells. The transaction was oversubscribed with more $1.7 billion in orders from a group of 18 investors. Barclays Capital Inc. was structuring agent, ratings advisor and left lead placement agent.

Diversified’s Outside Counsel: Kirkland & Ellis led by corporate associates Isaac Bate and Rizwan Popatia with assistance from corporate partners John Kaercher and Chris Heasley; asset finance & securitization partners Jeff O’Connor and Rudgee Charles; debt finance partners Lucas Spivey and Michelle Williamson and associate Kirby Swartz; derivatives partner Brett Ackerman; and tax partners David Wheat and Tom Evans and associate David Gilbert.

Diversified’s In-House Counsel: Ben Sullivan and Jamie Adkins

California Resources closes $600M notes offering

Deal Description: Vinson & Elkins said June 6 it advised California Resources Corp. in connection with an upsized private offering of $600 million in 8.250% senior unsecured notes due 2029. The cffering closed on June 5. The company intends to use the net proceeds from the offering, cash on hand and borrowings under its revolving credit facility to repay the existing indebtedness of Aera Energy and its operating affiliate Aera Energy Services Co. in connection with their pending merger.

From V&E: The corporate team was led by partners Sarah Morgan, David Stone and Scott Rubinsky and senior associate Layton Suchma with assistance from associates Connor Rabalais, Cole Leveque and Ronnie Braxton.

Hess Midstream prices $343M secondary by selling shareholder GIP

Deal Description Hess Midstream announced the pricing of an underwritten public offering of 10 million Class A shares representing limited partner interests by an affiliate of Global Infrastructure Partners at a public offering price of $34.30 per Class A share. The underwriter subsequently exercised in full its option to purchase up to 1 million additional Class A shares at the public offering price less underwriting discounts and commissions.  

Hess Midstream/Selling Shareholder’s Outside Counsel: Latham & Watkins with a corporate team led by Texas partners David Miller, Samuel Rettew and Thomas Brandt with associates Celia Mishra, Cooper Shear and Jeff Serfass. Advice was also provided on tax matters by Houston partners Tim Fenn and Bryant Lee with associate Dylan White; on environmental matters by Houston/Los Angeles partner Joshua Marnitz and associate Jacqueline Zhang; on benefits matters by Washington, D.C., partner Adam Kestenbaum; and on securities matters by Washington, D.C., associate Sara Almousa.

Haynes Boone advises on $120M private offering for TXSE launch

Deal Description: Haynes Boone announced June 5 its role in a $120 million private offering to support the launch of the Texas Stock Exchange (TXSE), which will be headquartered in Dallas. The offering was supported by two dozen major institutions, including BlackRock and Citadel Securities. The new exchange, which is not likely to receive approval within this calendar year, seems aimed at corporations desiring to buck increased compliance costs to trade on the NYSE and Nasdaq and to take advantage of the state’s newly created business courts.

From Haynes Boone: The deal was led by Dallas partner Greg Samuel and associates Logan Weissler and Taylor West,