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New data compiled by Mergermarket and The Texas Lawbook’s Corporate Deal Tracker shows continued shifts in the legal marketplace. Premier M&A legal practices continue to get more of the top dollar transactional work. A smaller group of full service firms are capturing the mid-market deal activity. Wall Street law firms continue to steal away the largest Texas M&A.

But the newest trend is that Texas-based lawyers are increasingly being hired by non-Texas companies to advise them on mergers, acquisitions and joint ventures.

The Texas Lawbook has the exclusive report on the law firms that are doing the most M&A work so far in Texas.

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.

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.

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.

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.