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In a week where there were no discernible data center deals and the power transactions were limited to a single deal for wind farms, the M&A legal market had a different look. Capital markets deals, however, were no where to be found.
The week that ended Oct. 17, dipped back below the yearly average with just seven deals valued at $3.6 billion. One of the deals included dozens of lawyers from across the country: but just one from Texas.
The week ending Oct. 3 saw 14 deals valued at a bit over $4 billion, featuring the usual menu of power and infrastructure deals. It was a week without a banner transaction — made extraordinary by its adequacy in head-scratching times.
For the week ended Sept. 26, the CDT Roundup saw just seven deals reported with a combined value of just over $6.3 billion. There were no billion-dollar M&A transactions and more than half the deal value resided in CapM debt issues.
Given that summer is over and the close of Q3 is just days away, we were expecting more traffic.
Of the 10 equity transactions reported last week, five were minority fundings, and the largest chunk of the week's transaction value derived from a revolving credit deal. It marked the fourth straight week when even the good numbers exude caution. Some would call that a trend.
Last week was another light one, all around, with a total of six deals — five of them M&A/Funding — for a total of $3.3 billion. You know the gruel is thin when the main cause for celebration is the first capital markets transaction in three weeks.
A summer's end dearth of deals seems to have ended last week with 12 M&A transactions valued at $17 billion reported — though no CapM deals for the second week in a row.
While the summer heat continues to scorch the state, the Texas M&A market has certainly cooled. There wasn’t much activity for the week ended Aug. 29, with nary a capital markets transaction. That left the CDT Roundup with seven M&A and funding transactions with a combined disclosed value just over $3 billion.
The CDT Roundup saw nine deals announced during the week ended Aug. 22, with a combined reported value of about $2.8 billion — the lightest dollar figure since late January. The week prior had 15 deals with a value of nearly $7 billion, and a year ago at this time, the Roundup was reporting 23 deals worth more than $15.2 billion.
The rare week ended without an M&A megadeal.
For the week ended Aug. 15, the CDT Roundup saw 15 deals worth about $11.3 billion. The week prior saw 13 deals with a value of $11.1 billion and for this same week a year ago the Roundup reported 13 deals worth more than $26.4 billion.
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