Since 2018, Texas lawyers from 44 law firms have been the lead legal advisors to buyers, sellers or targets in 554 mergers, acquisitions and joint ventures with price tags of $1 billion or higher. Sixteen law firms in Texas have led or co-led 10 or more deals valued in the billions. The Texas Lawbook breaks down the data for Texas-led billion-dollar deals from its transactions database.
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Electricity Is the New Oil: Texas Power Deals Top $100 Billion So Far This Year
Texas is at the center of a historic boom in power and utility M&A, fueled by the massive energy demands of data center expansions and the global power race driven by the AI revolution.
It’s no secret that energy, particularly in the form of electricity, has become the foundation of dealmaking in anticipation of the need for hyperscale computing and data storage.
But the demand for power and utility deals, large and small, would be hard to overstate.
In the first three quarters of 2025, Texas lawyers handled more M&A transactions involving power and utility projects than in any full year since 2018.
Not only are there more deals, but they are larger. Far larger. In the first three quarters of 2025, Texas-related deals in the power and utilities sector hit $106.5 billion. By comparison, the record-setting M&A year of 2021 saw eight P&U transactions totaling $3.7 billion. (Photo by Stephanie Tacy/NurPhoto via AP)
From Jet Engines to Electric Wings: Aerospace Leads the Week
The week that ended Nov. 15 saw 16 deals reported to the Roundup, evenly split between M&A and capital/credit markets, with a total value of $16.4 billion. That’s down more than a tad from last week’s 21 deals valued at nearly $76 billion. But it continues a remarkable run of nine consecutive weeks with total reported values of $11 billion or more.
That and more in this edition of CDT Roundup.
McKool Smith Settles New Jersey Healthcare Suit for $100M
New Jersey and McKool Smith announced Friday that the state has settled its 2021 lawsuit against Horizon Healthcare Services for $100 million. New Jersey claimed that the healthcare services provider had been submitting false funding claims to the state for years. Horizon says it never retained any of the money charged to the state for healthcare provider claims.
Suit Amended to Include Families of 5 Who Died in Central Texas Flood
The families of five girls who died in the July 4 flood while at summer camp are being represented by Arnold & Itkin. They were added to the lawsuit filed earlier this week on behalf of Ellen Elizabeth Getten, the 9-year-old daughter of Baker Botts partner Douglas Getten and Jennifer Getten.
P.S. — Baker Botts Launches Women’s Summit for Senior In-House Counsel
In this edition of P.S., Baker Botts launched a new women’s summit, which convened leading women general counsel for cross-industry dialogue and professional development. The law firm, which boasts a strong pipeline of alumni who advance to senior in-house roles, plans to make the summit a recurring flagship event.
We also report on significant pro bono and public service recognitions, with the Texas Access to Justice Commission honoring South Texas College of Law Houston and standout students at the University of Texas and Texas A&M law schools and the Anti-Defamation League Texoma awarding its prestigious Larry Schoenbrun Jurisprudence Award to longtime First Amendment advocate Thomas Leatherbury.
Meanwhile, Haynes Boone attorneys statewide marked Pro Bono Week through a range of volunteer legal initiatives. This issue of P.S. closes out with a call for submissions for the 2025 DFW Outstanding Corporate Counsel Awards, which includes honors for excellence in pro bono, public service and diversity and inclusion among North Texas in-house lawyers.
Civil Rights Litigator Christina Jump Leaving Texas-Based Muslim Legal Fund of America to Launch Solo Practice
Christina Jump, a longtime Dallas-based attorney who leads the civil litigation department of the Richardson-based Muslim Legal Fund of America’s Constitutional Law Center for Muslims in America, is leaving to launch a solo practice. A former president of the Dallas Women Lawyers Association, Jump says the move will give her the ability to “work each case more deeply and interact with each client more directly and often.”
Judge Says Jackson Walker Has No Right to Jury Trial in Bankruptcy Fee Dispute
In the concise eight-page order, Chief U.S. District Judge for the Western District of Texas Alia Moses denied Jackson Walker’s demand for a jury trial, hit pause on several proposed settlements the firm has reached with its former bankruptcy clients, consolidated the 34 cases where the U.S. Trustee is trying to claw back millions in fees, and sent them back to the Southern District of Texas bankruptcy judge who had been overseeing the cases until April.
Baker Botts Adds Anna Irion to Global Projects Team
Baker Botts has announced that Anna Irion is joining its Global Projects department in Houston after more than a dozen years focusing on all things midstream with Jackson Walker.
Texas Business Court Rules in Favor of Marathon in Winter Storm Uri Bench Trial
The first bench trial for the Texas Business Court resulted in a win for Marathon Oil in Houston. Marathon filed its declaratory judgment lawsuit after Mercuria claimed Marathon owed it $17.4 million for failing to deliver natural gas during Winter Storm Uri in 2021.