CDT Roundup: 8 Deals, 9 Firms, 36 Lawyers, $3.4B
The impact of the coronavirus on pending transactions may be overstated, according to one law firm, while new deals involving Texas lawyers slumped last week. Claire Poole reports.
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The impact of the coronavirus on pending transactions may be overstated, according to one law firm, while new deals involving Texas lawyers slumped last week. Claire Poole reports.
Last week was a big one for capital markets transactions, in spite of...well, everything. M&A? Not so much. In her weekly CDT Roundup, Claire Poole has names and numbers for the deals that kept Texas lawyers busy while they WFH.
Deals are being terminated or renegotiated all over the place due to the coronavirus and fallen oil prices, with one seller in Texas taking a 30% haircut. Meanwhile, deal activity among Texas lawyers is beginning to slide with no letup in sight.
First quarter global M&A activity fell back to levels not seen since 2013 with U.S. results eerily similar to 2008. Meanwhile, dealmaking involving Texas lawyers keeps chugging along thanks to transactions already in the works and some companies’ moves to shore up liquidity.
Preliminary data shows that global deal value slid 28% in the first quarter, with private equity firms making up a bigger chunk. Texas dealmakers haven’t been immune, although last week saw flat activity year-over-year with deal closings, restructuring work and private equity reloading to hunt for opportunities.
Two big transactions involving Texas lawyers helped move the value needle last week, despite shaky-looking deals in the rest of the M&A world thanks to the coronavirus.
Dealmaking among Texas lawyers was way down this past week, thanks to the spreading coronavirus and sliding oil prices. But transactions were already sickly even before the recent COVID-19 fears. Claire Poole explains.
It was a semi-busy deal week last week for Texas lawyers. But Monday's stock market collapse – the biggest since the 2008 financial crisis – could be a transaction killer until a clear recovery is underway.
Private equity firms’ rate of return isn’t so rosy due to record amounts of dry powder pushing up prices for deals, according to a recent report. Meanwhile, dealmaking was decent among Texas lawyers last week thanks to two MLP simplification deals worth almost $10 billion.
Healthcare M&A may be down but transactions are growing larger while deal activity in cybersecurity is rising despite a fall in technology deals overall. That plus last week’s dealmaking by Texas lawyers, including a big cybersecurity divestiture by Dell.
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