New data shows that M&A activity in Texas in has declined four consecutive quarters, but the deals that are getting done are twice as big and significantly more complex. Corporate lawyers and investment bankers now predict energy M&A could remain stagnant or plunge even more over the next year.
“This market is just brutal,” says Deliotte’s William Snyder. “There’s going to be prolonged pain.”
The Texas Lawbook’s Corporate Deal Tracker has every merger, acquisition and JV handled by Texas lawyers in 2015.
More Stories
V&E Advises Targa Resources in $6.7 Billion Acquisition
Houston-based Targa Resources Corp. has agreed to purchase its limited partnership, Targa Resources Partners (TRP), in an all-stock transaction valued at approximately $6.7 billion.
V&E Advises Targa Resources in $6.7 Billion Acquisition
Houston-based Targa Resources Corp. has agreed to purchase its limited partnership, Targa Resources Partners (TRP), in an all-stock transaction valued at approximately $6.7 billion.
Norton Rose Fulbright Scores Defense Patent Verdict in EDTX
A team of Norton Rose Fulbright lawyers led by Brett Govett scored a take-nothing verdict late last week in Texas’s Eastern District for a patent infringement case involving reflective insulation products.
Andy Payne Scores $16.3 Million Jury Win in Fort Worth
Lawyers for a 56-year-old Fort Worth air conditioning repairman severely burned while fixing a compressor are asking a Texas state court judge to uphold a multimillion-dollar judgment for their client. Clarence Johnson sued St. Louis-based Emerson Climate Technologies and Fusite for designing and selling the defective compressor that sprayed scorching hot oil on his face and torso causing him to suffer second-degree and third-degree burns on 62 percent of his body.
DMN: Energy Future’s Bankruptcy Trial Starts Today
Energy Future Holdings seeks a fresh start in U.S. Bankruptcy Court in Wilmington, Del., today, arguing that breaking up the company offers it and its creditors the best chance to move on with the least possible financial pain. The trial is expected to run through at least the end of the month, pitting rival attorneys against one another in a bid to extract the most value they can from $40 billion in outstanding debts. The Dallas Morning News and The Texas Lawbook are following the case closely.
V&E advises BlueScope, Jones Day Represents Bridgestone in Separate Deals
The Dallas offices of Jones Day and Vinson & Elkins were lead advisers in the two largest acquisitions of the week. Bridgestone Retail Operations selected M&A partners Scott Cohen and Alain Dermarkar of Jones Day to handle its $835 million purchase of Pep Boys. BlueScope Steel Ltd. chose Vinson & Elkins partners Robert Kimball and Marc Rose to advise it in its $720 million acquisition of Cargill’s 50 percent ownership of North Star BlueScope Steel.
V&E advises BlueScope, Jones Day Represents Bridgestone in Separate Deals
The Dallas offices of Jones Day and Vinson & Elkins were lead advisers in the two largest acquisitions of the week. Bridgestone Retail Operations selected M&A partners Scott Cohen and Alain Dermarkar of Jones Day to handle its $835 million purchase of Pep Boys. BlueScope Steel Ltd. chose Vinson & Elkins partners Robert Kimball and Marc Rose to advise it in its $720 million acquisition of Cargill’s 50 percent ownership of North Star BlueScope Steel.
Baker Botts Opens San Francisco Outpost
Baker Botts is sending prominent Dallas real estate partner Pat Stanton west to open the firm’s new office in San Francisco. Stanton has been the partner-in-charge of Baker Botts’ Dallas office since 2012. Litigation partner Timothy Durst will assume Stanton’s duties. This article has full details of Baker Botts’ decision to open its second outpost in California.
Justice Guzman: Texas Lawyers not doing Enough Pro Bono
Half of Texas lawyers donate their services to needy clients, but it isn’t enough, Justice Eva Guzman told a Texas Access to Justice luncheon Monday. The value of this work was estimated to be more than $500 million in 2013. Guzman and Chief Justice Nathan Hecht also presented three Texas legislators, state Reps. Todd Hunter, Morgan Meyer and Kenneth Sheets, with its Legislative Hero Award.