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The Texas Lawbook

Free Speech, Due Process and Trial by Jury

  • Appellate
  • Bankruptcy
  • Commercial Litigation
  • Corp. Deal Tracker/M&A
  • GCs/Corp. Legal Depts.
  • Firm Management
  • White-Collar/Regulatory
  • Pro Bono/Public Service/D&I

CDT Roundup: No Fuel for Thought as M&A Skips Oil & Gas for Tech and Food

June 21, 2025 Allen Pusey

For the week ending June 21 — and for this, our 25th weekly report of 2025 — there were 16 deals submitted for a total reported value at just under $6 billion (or $5.984 billion for the more exacting). On the year that’s slightly above average in volume (14.9 deals per week for the first 24 weeks), and well below the average for reported value ($13.2 billion per week for those same 24).

We take nothing from that except to note that this most recent week was far better than the week prior, which recorded nine deals for $478 million, and stands remarkably similar to the 12 deals for $5.6 billion recorded at the summer solstice last year.

But if you’re looking for something unusual — which is kinda our job here — notice the fact that there was not one O&G transaction on the M&A/Fundings side of things. There were a couple of debt issues in the sector, but no upstream, midstream or downstream deals in oil and/or gas. Even Chevron Corporation, which acquired 125,000 acres in leaseholds in the Smackover Formation, did so as the first energy major to fully embrace the domestic lithium mining business.

On the other hand there were a couple of deals in food/tech, no less than four digital workforce platform sales, a couple of manufacturing transactions, a telecom deal in Latin America and an e-commerce platform that gained a new PE partner.

But the deal of the week was the $494 Initial Public Offering of Irving-based Caris Life Sciences, which specializes in AI-driven molecular profiling aimed at defining individualized cures for cancer. The company made available more than 23.53 million shares at $21 a pop. The stocked opened Wednesday at $27 and never dropped below $25.56, ending the company’s whirlwind week with a $7.6 billion capitalization.

Latham & Watkins, by the way, advised.

Jason Philyaw contributed to this report.

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 CountAmountFirmsLawyersM&A CountM&A Value $MCapM Count
CapM Value $M
12-Jul-0202515$13,0121420812$10,9023$2,110
05-Jul-20259$15,7788914$7,2805$8,498
28-Jun-202513$7,77781547$2,0316$5,746
21-Jun-202516$5,9841011311$3,0875$2,897
14-Jun-20259$4788133603$478
07-Jun-202516$26,2101119611$24,7445$1,466
31-May-202519$23,3811116612$18,6657$4,717
24-May-202515$24,0331112113$23,6242$409
17-May-202516$21,7601214511$18,6155$3,145
10-May-202524$33,1751620619$30,7655$2,410
03-May-202511$4,249139011$2,226.52$2,022.5
26-Apr-202512$8,78791689$6,0113$2,776
19-Apr-202511$8,09771389$7,9852$112
12-Apr-202513$2,392815210$2,0653$327
05-Apr-202519$27,7621518816$25,4733$2,289
29-Mar-202521$8,1881025816$4,1255$4,064
22-Mar-202519$6,4851423115$4,1284$2,857
15-Mar-202513$13,7371315110$9,9324$3,805
8-Mar-20257$2,2345665$2242$2,100
1-Mar-202511$3,05087510$2,5501$500
24-Feb-2512$16,39771496$6,6356$9,862
17-Feb-2517$12,1361313410$9,4112$2,725
10-Feb-2514$7,15491799$4,9505$2,204
3-Feb-2516 $10,068720011$7,5535$2,515
25-Jan-2514$10,261101259$2,2075$8,054
18-Jan-2519$7,3821531612$2,3007$5,082
11-Jan-2521$33,5601618716$32,5215$1,039
4-Jan-259$6,8279809$6,82700
21-Dec-2411$2,79811928$2,2293$570
14-Dec-2415$5,3231218612$3,8123$1,511
07-Dec-2416$4,7661023111$2,32152,445
30-Nov-2410$10,29191034$8,2906$2.001
23-Nov-2415$4,5531515311$3,3794$1,174
16-Nov-2417$11,4881124513$10,1864$1,303
09-Nov-2414$2,1101213912$1,4102$700
02-Nov-2412 $52,788 1110711$52,7381$50
26-Oct-248$3,1608657$3,0651$75
19-Oct-2412$5,3041113611$4,5541$750
12-Oct-2417$8,4381215015$8,1162$322
05-Oct-2422$23,1811218915$19,9807$3,201
28-Sep-2411$2,35671447$534$2,303
21-Sep-2412$9,568101695$4,1017$5,467
14-Sep-2424$10,9881223516$7,1758$3,813
7-Sep-2412$20,4201616811$20,3071$112.9
31-Aug-2413$20,631913412$14,7751$5,856
24-Aug-2419$8,4522132516$7,1023$1,350
17-Aug-2425$49,1961630411$39,38614$9,810
10-Aug-2420$12,2641531216$9,7944$2,470
03-Aug-2426$16,4981633418$8,1378$8,361
27-Jul-2419$16,4422127115$13,8384$2,604
20-Jul-2415$16,0161418410$14,2325$1,784
13-Jul-2420$17,220 1426518$7,146 2$10,074
6-Jul-2411$3,941 11958$2,650 3$1,291
29-Jun-2414$6,296 152248$6,296 6$1,927
22-Jun-2412$5,679 81375$210 7$5,469
15-Jun-2413$9,895 1621410$5,280 3$4,615
8-Jun-2419$23,859 1323912$19,436 7$4,423
1-Jun-2412$34,510 111479$26,110 3$8,400
25-May-2413$9,684 1517110$4,434 3$5,250
18-May-2411$5,490 111738$3,129 3$2,361
11-May-2422$14,855 1422716$11,105 6$3,750
4-May-2413$3,139 98710$1,297 3$1,842
27-Apr-2410$6,684 62810$6,684 00
20-Apr-2419$15,989 111479$5,208 10$10,781
13-Apr-2413$8,952 97610$1,652 3$7,300
6-Apr-2423$26,616 1422214$13,501 8$13,116
30-Mar-2412$9,286 81368$4,299 4$4,987
23-Mar-2418$5,451 1726616$4,759 2$692
16-Mar-2421$11,437 1318614$9,316 6$2,070
9-Mar-2423$4,695 2121819$2,723 4$1,972
2-Mar-2420$9,108 1937214$4,558 6$4,550
24-Feb-2419$16,382 1224815$9,507 4$6,875
17-Feb-2416$29,932 1515712$29,216 4$716
10-Feb-2425$10,750 1719619$5,372 6$5,379
3-Feb-2412$8,416 181259$3,416 3$5,000
27-Jan-249$8,165 9878$7,815 1$800
20-Jan-2414$4,084 1210912$3,219 2$865
13-Jan-2417$33,588 1225612$26,765 5$6,823
6-Jan-248$7,915 8846$7,265 2$650
30-Dec-2317$14,599 129915$2,714 2$11,885
23-Dec-2323$4,182 1321916$1,813 7$2,370
16-Dec-2313$16,436 132807$15,150 5$1,286
9-Dec-2326$14,633.90 1724416$8,095 10$6,538.90
2-Dec-2313$6,720 95712$6,630 1$90
25-Nov-239$4,835 91316$1,785 3$3,050
18-Nov-2322$6,568.70 1718414$4,709.20 8$1,859.50
11-Nov-2315$9,825 1317912$6,581 3$3,244
4-Nov-2315$20,582.50 1419312$19,417.50 3$1,165
28-Oct-2318$68,419.10 1815215$66,646 3$1,773.10
21-Oct-2316$6,755.90 1616515$6,755.90 1$3
14-Oct-2314$67,851.20 131259$61,998.50 5$5,852.70
7-Oct-2317$6,595.50 1322816$5,995.50 1$600
30-Sep-2317$1,896.45 1318914$806.45 3$1,090
23-Sep-2323$6,432.70 1723016$1,402.80 7$5,029.90
16-Sep-2325$23,226.70 2335316$17,239 9$5,987.70
9-Sep-2312$6,369 81027$4,311 5$2,058
2-Sep-2314$2,522 69213$1,322 1$1,200
26-Aug-2317$12,160.25 1320215$6,573.25 2$5,587.00
19-Aug-2319$11,505 1321315$11,255 4$250
12-Aug-2319$9,698.80 131847$3,270 12$6,428.80
5-Aug-2313$5,201 1211812$5,051 1$150
29-Jul-2315$21,031.60 1319611$18,292.00 4$2,739.60
22-Jul-2318$3,992 1213013$2,808 5$1,184
15-Jul-2313$8,254.95 138113$8,254.95 00
8-Jul-2316$5,441.45 1217211$2,443 5$2,998.45
1-Jul-2316$6,872 1010512$5,474 4$1,398
24-Jun-2313$10,914 1620110$7,874 3$3,040
17-Jun-2317$5,880.70 1515115$4,705.70 2$1,175
10-Jun-2319$8,516.10 1311116$6,252.40 3$2,263.70
June 3 202312$6,104.42 121388$4,256.92 4$1,847.50
27-May-2317$12,200 106711$6,165 6$6,035
20-May-2311$22,458.10 81034$19,455 7$3,003
13-May-2312$7,034 101018$5,460 4$1,574
6-May-2320$3,297.60 1819617$2,985.60 3$312
29-Apr-2323$3,691.20 1813517$1,969.70 6$1,721.50
22-Apr-2316$5,570 1410414$4,750 2$1,000
15-Apr-2312$23,818.10 95910$21,618.10 2$2,200
8-Apr-2316$7,949 91739$5,472 7$3,477
1-Apr-2321$18,676.70 1217511$10,926.70 10$7,750
25-Mar-2315$8,779.50 101415$2,362 10$6,416.50
18-Mar-237$14,048.80 6695$13,345 2$703.80
11-Mar-2321$11,576 1616516$8,131 5$3,445
4-Mar-2320$9,668 1122816$8,209 4$1,459
25-Feb-2313$5,335 1313012$4,235 1$1,200
18-Feb-2314$5,743.70 131588$898.70 6$4,845
11-Feb-2316$12,088 1213712$9,965 4$2,123
4-Feb-2317$8,066 1514013$5,614 4$2,452
28-Jan-237$2,180 7755$1,692.75 2$488
21-Jan-2317$5,768 1617412$1,918 5$3,850
14-Jan-2311$2, 800101028$421 3$2,400
7-Jan-2318$8,296 1116714$6,461 3$1,835
31-Dec-2214$2,732 119912$2,092 2$640
17-Dec14$7,919 1311512$7,419 1$500
10-Dec-2214$10,093 128811$7,093 3$3,000
3-Dec-2226$12,800.90 1117220$4,141 6$8,659.90
26-Nov-228$2,266.70 853$76 5$2,190.70
19-Nov-2221$2,886 1521219$2,550 2$336
12-Nov-2213$15,093.70 9819$14,200 4$893.70
5-Nov-222519,337.201650922$8,267.20 3$11,070
29-Oct-2215$7,805.30 911614$7,180.30 1$625
22-Oct-2220$8,193.50 1325313$5,442 7$2,751.50
15-Oct-229$3,046.10 91397$2,588.30 2$457.80
8-Oct-2219$2,011.80 1211416$833.80 3$1,178
1-Oct-2223$5,532.90 1615618$4,952.30 5$580.60
24-Sep-2218$5,194 1421615$4,050 3$1,144
17-Sep-2221$8,352.30 1232015$4,759.60 6$3,592.70
10-Sep-2215$19,853.50 1012613$19,403.60 2$450
3-Sep-229$2,312 9629$2,312 00
27-Aug-2216$30,891.70 1013515$30,666.40 1227.7
20-Aug-2212$1,977 815299253$1,052
13-Aug-2218$8,004.70 1124211$2,844.70 7$5,160
6-Aug-2224$7,948.90 1224017$3,577 7$4,371.90
30-Jul-228$6,941 9787$6,839 1$102
23-Jul-2211$801 119210$801 10
16-Jul-2214$3,650 1012214$3,650 00
9-Jul-2210$3,557.70 7689$3,557.70 10
2-Jul-2218$8,609.40 1315215$2,754.40 3$5,855
25-Jun-2215$6,142 131469$2,017 6$4,125
18-Jun-2217$11,890.10 1422815$11,410 2479.7
11-Jun-2217$7,600 1212310$2,300 7$5,300
4-Jun-2212$2,937 101279$692 3$2,245
28-May-229$3,197.60 11869$3,197.60 00
21-May-2214$7,284.50 1218511$6,609 3$675.50
14-May-2211$306.60 98010$306.60 1$225
7-May-2216$10,451.75 1210812$1,827 4$8,624.75
30-Apr-2216$2,296.50 1615712$895.50 4$1,401
23-Apr-2210$2,241 11588$1,641 2$600
16-Apr-2211$6,643 71568$2,359 3$4,284
9-Apr-2217$4,429 1418411$1,690 6$2,739
2-Apr-2213$1,755 88410$1,145 3$610
26-Mar-2211$3,205 8656$200 5$3,005
19-Mar-2213$2,239.17 910613$2,239.17 00
12-Mar-2218$12,016 1123915$11,965 2$51.35
5-Mar-2217$6,786 1313713$5,161 4$1,625
26-Feb-2212$5,095 81499$4,437.50 3$658
19-Feb-2217$22,229 1717414$21,354 3$875
12-Feb-2212$2,344.70 10738$641.70 4$1,703
5-Feb-2211$2,503 89911$2,503 00
29-Jan-2211$3,872 1210112$3,872 00
22-Jan-2213$5,143.50 109912$4,842.50 1$301
15-Jan-2212$7,605 91559$6,480 3$1,025
8-Jan-2213$8,256.20 1110213$8,256.20 00
1-Jan-229$1,273.80 6509$1,273.80 00
25-Dec-2121$4,734.75 1117616$3,410 5$1,324.75
18-Dec-2126$7,325.20 1519318$3,640.20 8$3,685.20
11-Dec-2116$5,017 1010913$1,417 3$3,600
4-Dec-2114$2,310 8868$2,310 6$1,882.05
27-Nov-219$3.460.1101016$1,758 3$1,702.60
20-Nov-2120$22,792 1515712$18,864.50 8$3,928
13-Nov-2121$26,729 1217813$11,822 8$14,907
6-Nov-2112$8,303 1315710$6,682 3$1,621
30-Oct-2121$10,368 1521815$9,24.46$1,103.00
23-Oct-2121$18.783.11522211$12,314 10$6,468.60
16-Oct-2115$3,868 1111815$2,293 2$1,575
9-Oct-2120$8,610 1617516$7,795 4$815
2-Oct-2114$6,250 1113710$5,200 4$1,050
25-Sep-2111$11,460 9937$10,200 4$1,250
18-Sep-2111$16,603 8998$15,084 3$1,519
11-Sep-2117$10,653 1110313$8,503 4$2,150
4-Sep-2113$7,222 108911$6,715 2$507
28-Aug-2112$763 96311$663 1$100
21-Aug-2112$29,659 77911$29,579 1$80
14-Aug-2122$17,845 1119912$12,805 10$5,04
7-Aug-2117$13,670 1213915$11,766 2$1,904
31-Jul-2121$8,160 1113410$3,574 10$4,586
July 24,202121$6,367 1113915$3,712 6$2,655
17-Jul-2114$4,009 1112412$2,015 2$1,994
10-Jul-2116$3,997 1314311$1,597 4$2,4
3-Jul-2124$7,492 139416$3,769 8$3,722
26-Jun-2110$4,995 7858$3,847 2$1,148
19-Jun-2128$16,830 82289$1,861 19$14,968
12-Jun-2126$27,238 1520919$25,602 7$1,636
5-Jun-2115$15,539 1310013$14,709 2$600
29-May-2135$20,279 1114528$18,647$1,639
22-May-2124$53,208 1417417$51,047 7$2,161
15-May-2118$10,620 1322011$5,870 7$4,809
8-May-2117$10,400 1115615$8,386 2$2,500
1-May-2121$7,200 1611512$3,808 9$3,392
24-Apr-218$20,200 9318$20,200 00
17-Apr-2114$6,270 810211$40,180 3$2,260
10-Apr-2115$8,940 1312914$7,990 1$950
3-Apr-2118$19,513 1015112$16,923 6$2,590
27-Mar-2127$13,942 1524414$4,300 13$9,633.50
20-Mar-2111$2,046 41023$270 8$1,776
13-Mar-2115$3,270 91096$538 9$2,732
6-Mar-2124$13,617 1019613$10,395 11$3,222
27-Feb-2119$8,105 1213915$4,970 4$3,135
20-Feb-219$8,820 91538$8,520 1$300
13-Feb-2112$4,852.60 78172,7665$2,086.60
6-Feb-2118$9,752 1315314$5,222 4$4,530
30-Jan-2118$9,449 918215$8,753.80 3$695.30
23-Jan-2114$8,150 81186$4,000 8$4,150
16-Jan-2117$6,783 1313811$2,400 6$4,382.90
9-Jan-2122$6,829 1413518$3,139.30 4$3,690
2-Jan-217$1,466 7607$1,466 00
26-Dec-2018$15,900 1216316$5,300 1$600
19-Dec-2018$9,769 1411014$8,426 4$1,343
12-Dec-2010$7,200 91009$3,325 1$3,830
5-Dec-2015$4,261 91229$2,780 6$1,481
28-Nov-2019$7,758 1011013$4,003 6$3,755
14-Nov-2014$864.10 1415712$289.10 2$575
7-Nov-2013$6,332 91299$2,483.50 4$3,849
31-Oct-2010$3,995.80 81036$3,231.10 4$754.70
24-Oct-206$18,100 6585$17,709 1$350
17-Oct-208$351.90 5558$351.90 00
10-Oct-207$5,229 3504$735 3$4,494
3-Oct-2014$21,428 91739$17,535 5$3,893
26-Sep-2010$12,770 8935$10,300 5$2,470
19-Sep-2014$8,365 91016$1,020 8$7,345
12-Sep-206$4,406 8593$1,270 3$3,136
5-Sep-2011$5,191 81179$4,061 2$1,130
29-Aug-2011$2,531 9945$1,130 6$1,401
22-Aug-2018$6,574 121407$1,930 11$4,644
15-Aug-2013$4,991 10977$1,216 6$3,775
8-Aug-2012$32,092 111129$30,457 3$1,635
1-Aug-207$5,287 8765$3,687 2$1,600
25-Jul-209$18,751 6677$18,403 2$348
18-Jul-206$1,982.50 5504$1,407.50 2$575
11-Jul-2011$565.10 127510$65.10 1$500
4-Jul-2010$8,889 8989$8,788 1$100.30
27-Jun-208$6,874 10505$4,972.50 3$2,081.50
20-Jun-2012$4,444 91157$2,829 5$1,615
13-Jun-206$3,582 4372$350 4$3,232
6-Jun-2011$3,213.70 8657$470 4$2,743.70
30-May-208$7,335 7486$4,639 2$2,697
23-May-204$432.40 4343$432.40 10
16-May-206$310 6345$310 10
9-May-2018$5,630 1612414$3,180 4$2,450
2-May-201510,40010908$1,900 7$,8,500
25-Apr-208$3,400 9365$1,000 3$2,450
18-Apr-2019$9,500 14928$185.70 11$9,360
11-Apr-2012$6,000 9405$190 7$5,800
4-Apr-2014$8,200 116810$2,200 4$6,000
28-Mar-2016$6,500 139610$3,700 6$2,800
21-Mar-2011$11,910 7337$2,250 4$9,960
14-Mar-207809.86346684.81125
7-Mar-2016$2,500 157013$669 3$1,400
29-Feb-2013$15,260 1312811$11,760 2$3,500
22-Feb-2012$3,700 109210$2,560 2$1,130
15-Feb-2016$1,250 108412$35 4$1,222
8-Feb-2018$6,080 1412314$2,595 4$3,485
1-Feb-2021$20,900 1210114$17,860 7$3,060
25-Jan-2013$7,430 136212$6,430 1$1,000
18-Jan-2023$9,580 1512019$6,580 4$3,000
11-Jan-2021$14,200 1819916$1,020 5$13,200
4-Jan-2022$6,400 1111916$3,204 6$3,245
28-Dec-1922$7,150 1917518$6,800 4$327.40
14-Dec-1924$36,300 2316719$9,500 5$26,800
7-Dec-1911$10,400 11557$1,082 4$9,370
November 30. 201914$2,450 1212612$1,760 2$692.50
23-Nov-1916$1,995 104111$615 5$1,380
16-Nov-1915$3,820 1313511$2,500 4$1,271
9-Nov-1925$12,900 1718223$12,200 2$575
2-Nov-1910$2,470 126192,4503$22
26-Oct-1912$5,560 147011$3,860 1$1,700
19-Oct-198$6,600 81388$6,600 00
12-Oct-1919$4,300 145516$3,800 3$500
5-Oct-1918$14,500 1916615$11,100 3$3,400
28-Sep-1919$8,100 1813218$7,560 1$550
21-Sep-1914$6,300 166611$2,160 3$4,170
14-Sep-1915$23,800 125611$21,250 4$2,570
7-Sep-1917$3,500 159814$1,900 3$1,600
31-Aug-195$8,700 6505$8,700 00
24-Aug-1916$10,000 148215$4,250 1$5,750
16-Aug-1910$1,680 5527$650 3$950
9-Aug-1917$17,700 156814$3,900 3$13,800
2-Aug-1913$5,760 1210813$5,760 NANA
27-Jul-1911$7,300 13768$6,570 3$730
20-Jul-1913$11,800 1312511$5,300 2$6,500
13-Jul-1910$775 7468$542.50 2$233
6-Jul-197$2,500 9857$2,500 00
29-Jun-1923$8,290 1515417$2,300 6$5,970
22-Jun-1917$10,700 1013914$7,700 3$3,000
15-Jun-1911$13,500 1416011$13,500 NANA
8-Jun-1913$2,870 175511$1,570 2$1,300
1-Jun-1910$4,460 11608$4,140 2$315
25-May-1917$4,360 147914$3,700 3$612
18-May-1922$9,000 1715016$3,400 6$5,600
11-May-1918$19,800 1717715$18,300 3$1,500
4-May-1910$7,075 6328$6,900 2$175
27-Apr-1915$3,200 1411714$3,160 1$40
20-Apr-1913$13,500 10909$12,200 4$1,300
13-Apr-1916$38,900 149114$37,800 2$1,100
6-Apr-1912$6,870 119410$6,730 2$50
30-Mar-1915$6,470 128410$7,91.55$5,677
23-Mar-1918$6,450 149114$5,042 4$1,408
16-Mar-1914$10,180 1211511$8,800 3$1,300
9-Mar-199$1,800 6498$1,300 1$500
2-Mar-1920$3,033 1610714$1,817 6$1,262
23-Feb-1912$2,040 8699$614.60 3$1,430
16-Feb-1916$9,970 187716$9,970 00
9-Feb-1914$6,400 1011014$6,400 00
2-Feb-1918$6,740 159916$5,720 2$950
26-Jan-1913$2,770 116711$918.95 2$1,850
19-Jan-1915$3,819 167612$2,594 3$1,225
12-Jan-1918$7,283 149215$1,683 3$5,600
5-Jan-1910$529 125010$529 00
22-Dec-1817$2,570 138714$941 3$1,629
15-Dec-1810$2,860 8268$264 2$2,600
8-Dec-1815$1,819 166512$552 3$1,267
1-Dec-1812$7,500 10909$1,200 3$6,200
28-Nov-1815$4,500 1110714$4,000 1$500
19-Nov-1818$6,137 139813$2,142 5$3,995
14-Nov-1818$9,200 1315215$8,500 3$694
6-Nov-1816$17,300 1618314$16,361 2$950
29-Oct-1814$14,400 1812717$13,800 1$600
24-Oct-1813$6,140 1312611$5,122 2$1,018
17-Oct-1818$18,390 1512514$12,292 4$6,098
10-Oct-1829$3,149 1810420$1,647 9$819
2-Oct-1818$9,300 116714$7,300 4$2,000
25-Sep-1813$7,000 117510$6,000 3$995
18-Sep-189$3,570 7449$3,570 00
11-Sep-1813$5,900 1013213$5,900 00
7-Sep-1814$5,000 158611$4,000 3$1,000
29-Aug-1815$20,700 147913$4,700 2$16,000
20-Aug-1810$12,400 11538$11,380 3$1,057
14-Aug-1812$19,900 121329$18,889 3$1,011
7-Aug-1816$68,600 1110613$67,259 3$1,340
31-Jul-1815$15,100 159511$13,060 4$2,060
23-Jul-1813$2,130 156010$1,804 3$1,100
17-Jul-1814$5,370 17989$4,310 5$1,100
9-Jul-1816$11,200 157410$11,080 6$862
3-Jul-1813$7,000 78112$6,330 1$750
25-Jun-1815$8,800 13979$4,970 6$3,930
18-Jun-1813$14,200 14807$221 6$14,290
11-Jun-1812$6,300 8968$5,910 4$803
6-Jun-1813$14,500 10888$14,154 5$579
31-May-1811$4,890 10638$3,240 3$1,790
22-May-1815$20,400 11639$19,808 6$885
15-May-1815$4,700 1510610$3,900 5$643
9-May-1811$1,400 13889$1,300 2$560
1-May-188$14,250 7887$13,400 1$450
24-Apr-1812$5,300 66111$4,470 1$800
17-Apr-189$1,800 10447$2,330 2$1,434
11-Apr-1811$2,500 8326$1,690 5$809
3-Apr-1815$13,400 111219$12,020 6$1,090
28-Mar-1810$4,000 10927$3,870 3$215
19-Mar-1817$5,800 135110$590 7$5,165
12-Mar-1815$3,130 114311$2,360 4$788
6-Mar-1819$5,400 1311610$1,530 9$4,860
27-Feb-1820$6,600 136914$5,530 6$1,030
19-Feb-1815$5,500 1411110$3,990 6$1,980
12-Feb-1823$10,900 1715712$7,110 11$3,840
5-Feb-1816$8,600 131007$1,330 9$7,800
30-Jan-1811$12,600 11685$7,300 6$4,982
24-Jan-1819$9,400 151295$2,010 14$7,337
18-Jan-1810$6,280 8492$2,100 8$4,188
9-Jan-1812$16,500 12929$15,890 3$475
3-Jan-1810$2,500 9478$2,350 2$150
27-Dec-1715$9,000 151139$7,568 6$1,784
18-Dec-1715$13,800 161649$13,010 7$1,118
11-Dec-1714$9,700 1012612$2,940 4$8,500
4-Dec-176$1,800 6315$1,510 1$300
28-Nov-177$3,850 8764$3,260 3$285
16-Nov-1710$2,700 10486$1,840 4$856
8-Nov-1715$2,380 179110$1,860 5$516
1-Nov-1712$4,700 17949$3,400 4$1,300
23-Oct-1715$10,500 106710$9,780 4$1,530
18-Oct-176$2,000 373$225 3$1,820
10-Oct-1712$6,570 1009$3,880 3$3,360
2-Oct-178$3,100 11193$1,630 5$1,750
25-Sep-178$4,880 8795$2,660 5$2,070
18-Sep-179$4,770 3$300 6$4,470
12-Sep-1711$4,430 8$2,030 3$2,400
1-Sep-174$1,310 3$317 1$1,000
23-Aug-1711$13,640 98$11,840 3$1,800

M&A/Fundings

PSG sells stake in SevenRooms as part of $1.2B sale to DoorDash

Deal Description: PSG Equity said it completed the sale of a minority stake in SevenRooms on June 16 to DoorDash as part of the food delivery service’s $1.2 billion acquisition of the customer relationship management technology company. PSG didn’t disclose terms of the divestiture. The Boston-based private equity firm initially invested in SevenRooms in 2020 and said it helped the company expand to more than 13,000 venues and customers from 2,000 five years ago. Providence Equity Partners created PSG about a decade ago to focus on lower middle-market technology firms. Weil, Gotshal & Manges advised PSG. Goodwin Procter counseled SevenRooms. A&O Shearman represented DoorDash. For more details on the transaction, please see our daily coverage here.

PEP-backed 365 Retail Markets acquires Cantaloupe in $848M take-private deal

Deal Description: B2C platform Cantaloupe Inc. said June 16 it has agreed to be acquired by 365 Retail Markets, a portfolio company of Providence Equity Partners. PEP has agreed to pay $11.20 per share, a 34 percent premium to the company’s May 30 closing price on the Nasdaq. Based in Malvern, Pennsylvania, Cantaloupe specializes in self-checkout technologies used in such venues as laundromats, hotels, micro markets, arcades and sporting events. Likewise, 365 Retail Markets offers complementary self-serve hardware and payment systems for the food services industry, and the combination extends its geographical footprint, as well as its vertical and horizontal market reach. 365 Retail Markets is headquartered in Troy, Michigan.

Cantaloupe Outside Legal Counsel: King & Spalding

PEP/365 Outside Legal Counsel: Weil Gotshal & Manges

Weil Lead Lawyers: Ramona Nee (Boston) and David Gail (Dallas)

Texas Lawyers: James Griffin (Dallas), Claudia Lai (Dallas), Edward Martin (Dallas), Angela Estrada (Dallas), Sarah Yue (Dallas)

Elsewhere: Jeffrey Perry (Washington, D.C.), Benton Lewis (New York)

Cantaloupe Financial Advisors: J.P. Morgan Securities

PEP/365 Financial Advisors: William Blair

Baker Hughes buys Continental Disc for $540M

Deal Description: Baker Hughes announced June 16 that it is adding to its line of pressure valve products with the $540 million all-cash acquisition of Continental Disc Corporation from infrastructure investor Tinicum. Based in Liberty, Missouri, CDC designs and manufactures rupture discs, rupture disc holders, burst disc indicators, pressure- and vacuum-relief valves, flame and detonation arrestors, as well as other safety related products needed in the manufacture of pharmaceuticals, chemicals, aerospace equipment and food and beverages products.

Baker Hughes Outside Legal Counsel: King & Spalding

K&S Lead Lawyer: Erik Belenky (Atlanta)

Other Lawyers: Pablo Alvarez (Atlanta), Kristen Landers (Atlanta), Milind Mishra (Atlanta), Angel Reed (Atlanta)

Tinicum Outside Legal Counsel: Morrison & Foerster

Baker Hughes Financial Advisors: Jefferies

Tinicum Financial Advisors: William Blair, Baird

Telefónica sells Ecuadoran mobile brand for $380M

Deal Description: In a transaction valued at $380 million, Telefónica Hispam has agreed to sell its stake in Telefónica Ecuador to Millicom Spain. The announcement was made June 13. The sale is part of an ongoing move by Telefónica to reduce its exposure in Latin America. Telefónica operates in Ecuador under the name Movistar holds a customer base of five million, which represents a 24 percent share of that market.

Telefónica outside counsel: Latham & Watkins

Latham Lead Lawyers: Tony Del Pino (New York), Ignacio Pallarés (Madrid), John Slater (Houston)

Elsewhere: Francisco Lanusse (New York), Lisa Carral Flores (Chicago), Jeffrey Tochner (New York), Sebastian Moss (New York), Jordi Dominguez (Madrid), Blanca Vazquez de Castro (Madrid)

INSPYR to acquire BGSF professional division for $99M

Deal description: INSPYR Solutions, a workforce consultant and talent provider based in Fort Lauderdale, announced June 16 that it has agreed to pay $99 million for the professional division of BGSF in an all-cash transaction. The acquisition allows INSPYR to expand its IT staffing services to include operations involving Oracle, SAP, ServiceNow, Workday and Workiva. Specifically, the deal encompasses BGSF’s IT consulting, finance and accounting, management, and near and offshore software engineering practices. BGSF, headquartered in Plano, plans to use the cash infusion to pay down existing debt and focus investment in its property management division.

BGSF Outside Legal Counsel: Norton Rose Fulbright

Lead lawyers: Paul Conneely (Dallas) and Brandon Byrne (Dallas)

Texas Lawyers: Cassidy Tennyson (Dallas), Jennifer Zhang (Dallas), Josh Buss (Dallas), Todd Schroeder (Dallas), Alexander Clark (Dallas), Mike Stimson (Austin)

Elsewhere: Jared Kaplan (New York)

Elemental Advanced Materials nabs $20M in Taranis-led fundraise

Deal Description: Elemental Advanced Materials announced June 18, the close a $20 million funding round led by UK climate technology investor Taranis. Based in Houston, Elemental has patented a single-step CO2e-neutral process for the manufacture of high-performance carbon nanomaterials like graphene from hydrocarbon waste. Graphene has a wide range of potential applications in the production of electronics, energy storage, coatings, composites, lubricants and biomedical devices.

Button scores strategic growth investment from PSG

Deal Description: The ecommerce optimization platform Button announced June 16 that tech investors PSG have made a growth investment in the firm. No terms were disclosed, but existing investors Redpoint Ventures, Norwest Ventures and Icon Ventures say they will continue their investments. Formed in 2013 and based in New York, Button’s AI-supported software is designed to direct mobile online product browsers to sites where they are most likely to purchase. PSG headquarters in Paris but has a U.S. base in Boston. Button is headquartered in New York City.

PSG Outside Legal Counsel: Weil Gotshal & Manges

Weil Lead Lawyers: David Gail (Dallas)

Texas Lawyers: Spencer Finney (Dallas), Hunter Zepeda (Dallas), Nneka Ukpaby (Dallas), Jonathan Macke (Dallas), Josh Schonfeld (Dallas)

Serent Capital to acquire GovWorx

Deal Description: GovWorx, a Denver-based developer of training simulations and decision tools for emergency services, announced June 10, a strategic partnership with GovTech investor Serent Capital. Founded in 2023, the GovWorx flagship training product, CommsCoach is already used by more than 100 emergency communications networks. Serent Capital partner Stewart Lynn says it plans to use the GovWorx foundational product to create scalable technologies for a broad range of public safety and medical networks. The investment is Serent Capital’s fifth GovTech portfolio acquisition in the past four years. Serent is headquartered in San Francisco with a major investment office in Austin.

Serent Outside Legal Counsel: Kirkland & Ellis

Kirkland Lead Lawyer: Marc Browning (Austin)

Other Lawyers: Vlad Kroll (Bay Area), Elena Simion (Salt Lake City),  Mohammed Banjari (Bay Area)

TP acquires AI-driven gig outsourcing platform Agents Only

Deal Description: TP, the global outsourcing company, announced June 18, that it is acquiring Agents Only Technologies, an AI-powered “outsourcing gig work platform. TP, the branded name for Paris-based Teleperformance, said it plans to use the platform to expand its TP.ai Data Services with on-demand access to certified and highly skilled professionals to enable faster delivery of support services. Without apparent irony Akash Puglia, TP chief digital officer, declared: “The acquisition will help TP fuel large neural networks, accelerate reinforcement-learning cycles, and pioneer emerging domains like Physical AI, all while embedding robust governance, bias mitigation, and ethical guardrails. We’re engineering smarter, safer, and more responsible AI.” Agents Only is headquartered in Vancouver.

TP Outside Legal Counsel: Latham & Watkins

Latham Lead Lawyer: James Garrett (Houston)

Texas Lawyers: Daniel Harrist (Houston), Robert Brown (Houston), Jared Grimley (Houston), Saúl Aguirre-Villarreal (Austin), Dean Dixon (Houston), Harrison Little (Houston),  Andrew Abokhair (Austin)

Elsewhere: Holly Bauer (San Diego), Laura Szarmach (Washington, D.C.), Joseph Farrell (Los Angeles), Zac Alpert (Century City)

Chevron acquires 125K Smackover acres for lithium production

Deal Description: Moving to create the first major domestic commercial production of lithium, Chevron Corporation announced two deals last week for about 125,000 acres of leaseholds in the Smackover Formation of northeast Texas and southwest Arkansas. The company purchased more than 100,000 acres from the Energy & Minerals Group and its portfolio TerraVolta Resources, and the remainder from East Texas Natural Resources. Chevron said it plans to extract lithium — a critical element in the production of utility grade energy storage — from subsurface brines in the area. The process, known as Direct Lithium Extraction (DLE), employs a variety of techniques originally designed for desalinization of water including ionization, absorption and membrane separation. No specific terms for the two transactions were disclosed.

Chevron In-House Legal Counsel: R. Hewitt Pate

EMG/TerraVolta Outside Legal Counsel: Vinson & Elkins

V&E Lead Lawyers: Shay Kuperman (Houston), Creighton Smith (Houston)

Texas Lawyers: Alex Turner (Dallas), Laura Byrd (Houston), Caroline Oakley (Houston), Todd Way (Dallas), Dan Henderson (Houston), Katie Dillard (Houston), Sean Becker (Houston)

Uptick partners with PSG Equity

Deal Description: Growth equity investor PSG has signed a strategic partnership with Uptick, a job management platform for fire safety and maintenance. Based in Australia, Uptick is used to manage security for 1.6 million buildings across Australia, Canada, Ireland, New Zealand, the U.S. and the U.K. The deal was announced on June 5.

PSG Outside Legal Counsel: Weil Gotshal & Manges

Weil Lead Lawyer: Rick Frye (Dallas)

Texas Lawyers: Patrick Hosch (Dallas), Lauren Broidy (Dallas), Nneka Ukpaby (Dallas)

Elsewhere: Lewis Blakey (London)

Capital Markets/Credit

Enterprise Products Partners offers $2B in senior notes

Deal Description: Enterprise Products Partners, one of the largest publicly traded midstream partnerships in the U.S. announced June 17 its pricing of $2 billion in senior notes in four different issues: $500 million in notes due June 2028, carrying a 4.30 percent coupon priced at 99.869 percent of principle; $750 million in notes due January 2031, carrying a 4.60 percent coupon at 99.816 percent of principle, and $750 million of senior notes due January 2036 carrying a 5.2 percent coupon priced at 99.665 percent of face. The Houston-based partnership assets include more than 50,000 miles of pipeline, more than 300 million barrels of liquid storage and 14 billion cubic feet of storage for natural gas.

Enterprise In-House Counsel: Harry P. Weitzel (EVP and General Counsel)

EPP Outside Legal Counsel: Vinson & Elkins

Lead Lawyers: Doug McWilliams (Houston) and David Stone (Houston)

Texas Lawyers: Brett Peace (Houston), Connor Rabalais (Houston), Shelby Shearer (Houston), Jack Kimmel (Houston),  Chandni Jaggi (Houston), Matthew Dobbins (Houston), Ryan Vanderlip (Austin), Wendy Salinas (Dallas),  Ryan Carney (Houston), Jeff Slusher (Dallas), Addy Jackson (Dallas), Suzanne Clevenger (Houston), Ryan Hoeffner (Houston)

Note: This is the 15th offering totaling more than $30 billion that V&E has advised on for Enterprise Partners.

Targa Resources closes $1.5B offerings of senior notes

Deal Description: On June 18, midstream provider Targa Resources closed its offering of two issues of $1.5 billion in senior notes, including $750 million in 4.9000 percent notes due 2030 and $750 million in 5.650 percent notes due 2036. The two issues were priced at 99.87 percent and 99.7 percent of face value, respectively. The Houston-based company expects to use proceeds from the issues to redeem its 6.5 percent notes due 2027.

Targa Outside Legal Counsel: Vinson & Elkins

Underwriters: Barclays, Citigroup, J.P. Morgan, Mizhuo (joint book-running managers)

Underwriters Outside Legal Counsel: Gibson Dunn & Crutcher

Lead Lawyer: Doug Rayburn (Dallas)

Texas Lawyers: Justine Robinson (Houston), Alexis Levine (Houston), Riley Gesling (Dallas), Gregory Nelson (Houston)

Elsewhere: Taylor Cathleen Amato (Washington, D.C)

Caris Life Sciences issues $494M IPO

Deal Description: Caris Life Sciences, a precision medicine biotech, launched its highly anticipated IPO June 18, pricing the offering of 23,529,412 shares at $21 per share. The company, founded in 2008 and headquartered in Irving, is an AI-driven biotech platform that aims, according to its prospectus, to address “the entire cancer continuum, including early detection, minimal residual disease tracking, therapy selection, and treatment monitoring, as well as to create molecular signatures and discover and develop novel precision medicine therapeutics.” The company says it has compiled over its 17 years of existence one of the largest datasets in oncology research based on 6.5 million tests over 849,000 cases generating 38 billion molecular markers. The platform leverages next-generation sequencing with artificial intelligence and machine learning to measure and evaluate molecular dysfunction by capturing the DNA and RNA coding, as well as IHC (immunohistochemical) protein expressions to guide individualized patient diagnoses and treatments.

In-House Legal Counsel: General Counsel Russ Denton (Austin), Deputy General Counsel Ginger Appleberry (Dallas)

Caris Outside Legal Counsel: Latham & Watkins

Latham Lead Lawyers: Nathan Ajiashvili (New York) and Alison Haggerty (New York)

Texas Lawyers: Samer Zabaneh (Austin)

Elsewhere: Sandy Kugbei (New York),  Jie Lin Nai (New York), Akina Newbraugh (New York), Radley Gillis (New York)

Financial Advisors: BofA Securities, J.P. Morgan, Goldman Sachs (lead book-running managers) Citigroup, TD Cowen, Evercore ISI and Guggenheim Securities (book-running managers) BTIG, Wolfe | Nomura Alliance (co-managers).

Underwriters Outside Legal Counsel: Cooley

Kentucky Power issues $477.7M in recovery bonds

Deal Description: On June 12, Kentucky Power Company, a subsidiary of American Electric Power Company, closed its issue of 2025 recovery bonds valued at $477.7 million. The bonds are backed by recovery charges billed to current and future customers of the utility. The bonds hold a maturity date of Sept. 1, 2047. The bonds allow Kentucky Power to recover from its customers extraordinary costs incurred from its retirement of a coal-powered plant, deferred costs from storm damage and the purchase of power following Hurricane Helene in 2024.

Underwriters: Jefferies, Guggenheim Securities, SMBC Nikko Securities America

KPC Outside Legal Counsel: Sidley Austin

Sidley Lead Lawyers: Robert Stephens (Houston) and George Vlahakos (Houston)

Texas Lawyers: Mario Samos (Houston),  Evan Grosch (Houston), Enrrique Santa Cruz (Houston), Zayn Mian (Houston), Angela Richards (Houston), Khoa Nguyen (Houston)

Elsewhere: Carla Teodoro (New York), Sonia Barros (Washington, D.C.)

Perpetua Resources offers $425 million in common shares

Deal Description: Mining redevelopers Perpetua Resources announced June 16 the close of its public offering of 24,622,000 shares of common stock at $13.20 per share. The $325 million issue includes an over-allotment option for issue underwriters to purchase an additional 3,693,300 shares and a concurrent private placement of 7,575,757 for an additional $100 million. Formerly known as Midas Gold Corp., the Boise-based company is focused on the exploration, site restoration and redevelopment of gold, silver and antimony deposits in the Stibnite-Yellow Pine district of central Idaho known as the “Stibnite Gold Project.” The project, which would become the only domestic source of antimony, has received special attention under the Defense Production Act and from environmental critics who argue that the project’s use of cyanide leaching would alter the environment for Chinook salmon and bull trout in Idaho’s South Fork Salmon River.

Perpetua Outside Legal Counsel: Hunton Andrews Kurth

HuntonAK Lead Lawyers: Joanna Enns (Dallas) and Phil Haines (Houston)

Texas Lawyers: Kaitlyn Thorson (Houston), Field Daniel (Houston),  Robert McNamara (Houston), Henry Havre (Houston)

Elsewhere: Fatima Anjum (New York), Martin Stratte (San Francisco), Doug Dua (New York), Karma Brown (Washington, D.C.), Sevren Gourley (Richmond)

Late Arrivals and other matters…

Summit Partners announced an undisclosed growth investment in RIS Rx, a Newport Beach, California, healthcare technology company. Latham advised RIS Rx with a team led from California but Houston tax partner Christine Mainguy was in the mix. Likewise, Houston tax partner Bryant Lee helped a Latham team advise Miami-based Citadel Securities in its settlement of $1.2 billion senior notes.

Allen Pusey

Allen Pusey is a senior editor and writer at The Texas Lawbook.

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