For Dallas M&A partner Scott Cohen, this is the four major transaction in the semi-conductor industry this year.
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Houston Jury: Celanese’s $1.3 Billion Contract with Southern Chemicals is Valid
The $1.3 billion contract between Dallas-based Celanese Corporation and Houston-based Southern Chemical Corporation is valid and will continue until the agreement terminates in 2015, a Houston jury ruled Friday.
The dispute dates back to 2005, when Southern made a deal with Celanese to supply Celanese with methanol until 2015 – the year the acetyls producer expects to have its own methanol plant up and running.
Bell Nunnally Grabs Jeff Ansley
The former federal prosecutor and enforcement lawyer for the U.S. Securities and Exchange Commission has joined Bell Nunnally & Martin as a partner in the firm’s growing White Collar Defense and Internal Investigations practices. Ansley is widely considered one of the leading lawyers in North Texas representing businesses and corporate leaders under investigation for civil and criminal fraud-related offenses.
Port of Houston Authority Wins Six-Year Contractual Dispute
The Texas Fourteenth Court of Appeals on Thursday reversed an $18.6 million judgment against the Houston Port Authority in a six-year contractual dispute with Zachry Construction Corporation. The justices also awarded $10.6 million in legal fees for the Port Authority and its legal team, led by Vinson & Elkins.
“The decision of the Court of Appeals upholds the contractual terms agreed to by sophisticated contracting parties and allows the Port to protect the public’s funds with contract provisions that provide certainty as to the dollars that the Port will owe under the contract,” says V&E appellate partner Marie Yeates.
Fulbright Leads $2.5 billion Oil & Gas Equipment Deal
Houston-based National Oilwell Varco is paying $2.5 billion to buy Robbins & Myers, an Ohio-based oil and gas equipment maker.
Fulbright Leads $2.5 billion Oil & Gas Equipment Deal
Houston-based National Oilwell Varco is paying $2.5 billion to buy Robbins & Myers, an Ohio-based oil and gas equipment maker.
Gibson Dunn Represents EFH in $750 Million Secured Notes
Two EFH subsidiaries are issuing $750 million in senior secured notes designed to improve liquidity at two other EFH subsidiaries.
Fifth Circuit: SEC Case Against Microtune Execs Too Little, Too Late
A former CEO and a former General Counsel at Plano-based Microtune Inc. won a major legal victory Wednesday that is likely to end the SEC’s five-year-long effort to prosecute them for allegedly being involved in a $22.5 million options backdating scheme. The federal appeals court ruled that the SEC waited too long to bring charges against Douglas Bartek and Nancy Richardson.
The three-judge panel also rejected the SEC’s efforts to have the executives banned from serving as an officer or board member of a publicly traded corporation because such efforts are punishment, not merely an equitable remedy.
ABA Meets in Chicago
Scores of Texas lawyers journeyed to Chicago during the past week for the annual meeting of the American Bar Association. Many of those lawyers took time away from debating new ethics rules and attending CLE programs to attend a reception at the Sky Deck, which is on the 99th floor of the old Sears Tower, now known as the Willis Building. Here are photos of some of those who attended.
Q2 Solid for M&A Lawyers in Texas
Business transactional lawyers in Texas saw their workload pick up significantly during the second quarter of 2012. New data by mergermarket shows that there were 96 corporate mergers and acquisitions in Texas during April, May and June, which is a 26 percent increase over the same period in 2011. It was the highest deal count for any quarter since the fourth quarter of 2010. The value of the deals totaled more than $57.6 billion, which is up 13.6 percent from 2011.
“Having a robust energy business in Texas helps everyone, from energy-related service providers all the way down to home builders,” says Main Street Capital CEO Vince Foster. “There’s a lot of balance sheet repositioning going on, as oil and gas prices fluctuate.”