A Flavor for Every Sector Keeps Texas M&A Simmering

There was a little bit of everything in Texas M&A for the week ended Dec. 6, with 16 deals reported and a cumulative value of $9.9 billion.

And we do mean everything.

Industrial device manufacturing. Check. Texas bank consolidation. Check. Deals in the AI power generation ecosystem. Check. Billion-dollar Permian midstream deals. Check. Funding for defense drones. Check. Healthcare software. Check. Waste removal investment. Check. Variable PE swaps in school safety software, pool building, and HR assets. Check. And, of course, a few debt offerings reshuffling pandemic era debt. Also check.

That and more in this edition of CDT Roundup.

December 7, 2025 Jason Philyaw

Electricity Is the New Oil: Texas Power Deals Top $100 Billion So Far This Year

Texas is at the center of a historic boom in power and utility M&A, fueled by the massive energy demands of data center expansions and the global power race driven by the AI revolution.

It’s no secret that energy, particularly in the form of electricity, has become the foundation of dealmaking in anticipation of the need for hyperscale computing and data storage.

But the demand for power and utility deals, large and small, would be hard to overstate. In the first three quarters of 2025, Texas lawyers handled more M&A transactions involving power and utility projects than in any full year since 2018. Not only are there more deals, but they are larger. Far larger. In the first three quarters of 2025, Texas-related deals in the power and utilities sector hit $106.5 billion. By comparison, the record-setting M&A year of 2021 saw eight P&U transactions totaling $3.7 billion. (Photo by Stephanie Tacy/NurPhoto via AP)

November 16, 2025 Allen Pusey

Welcome to the New CDT: More Data, Deals and Dealmakers

The Corporate Deal Tracker enters a new era today with news, analysis and data that the M&A community has never seen and that has been years in the planning.

The Texas Lawbook launched the Corporate Deal Tracker in 2015 as a simple database that identified transactions — mergers, acquisitions, joint ventures and capital markets — handled by lawyers in Texas.

A decade later, The Lawbook is relaunching an expanded and enhanced version of the signature product. And the lawyers — the dealmakers themselves — remain the primary focus with the CDT.

November 2, 2025 Mark Curriden

Banking Steals Deal Spotlight This Week as Consolidation Continues

For the week ended Nov. 1, the CDT saw 20 deals come across the wires with a total value of $25.9 billion.

If you care to be really picky, that's a drop from the 19-deal $61.5 billion stretch the week prior, and less again than the 12-deal $52 billion week at this time last year.

But that's being really, really picky. In the eight weeks since mid-September, we've seen six with values over $20 billion, and two of those over $40 billion.

That and more in this edition of CDT Roundup.

November 2, 2025 Jason Philyaw

CDT Roundup: Blackstone, TPG, Meta, Blue Owl Dominate a $61B Week

Some weeks are heavy on volume. Some weeks are heavy on value. This week was a whopper in both counts: 19 transactions valued at more than $61 billion, including 18 in the M&A/Fundings column. That and more in this edition of CDT Roundup.

October 26, 2025 Jason Philyaw

What Corporate Lawyers Need to Know About Recent Changes to Texas Law

Texas has made bold moves in its efforts to attract corporations by implementing one of the most sweeping sets of reforms to its corporate law. The Texas Business Organizations Code positions the Lone Star State as an increasingly attractive option for the state of incorporation. This article highlights the key points that corporate lawyers need to know about recent changes to the TBOC.

October 19, 2025 Hillary H. Holmes & Gerald Spedale

CDT Roundup: A $40B Data Center Deal Leads a 14-Deal Week

In a $40 billion deal a Blackrock-led consortium of major AI players acquired Plano-based Aligned Data Centers in one of the largest data infrastructure to date. It was one of 14 deals valued at $46.6 billion dollars reported to the Roundup last week. Even so, it was only the seventh-largest Texas-related deal of 2025. That and more in this edition of CDT Roundup.

October 19, 2025 Jason Philyaw

CDT Roundup: From Solar to Chemicals to LNG, Energy Powers $20.8B Week

The week that ended Oct. 4 saw 21 deals reported with a total value of $20.8 billion with a few billion-dollar transactions, including one that may be the final deal for the Oracle of Omaha. Elsewhere, Texas bank consolidations continue as Prosperity Bank acquires Texas Partners to expand further into San Antonio, Austin and The Hill Country.

That and more in this edition of CDT Roundup.

October 5, 2025 Jason Philyaw

Fermi America’s $683M IPO Debuts in U.S. and London (Almost) Simultaneously

The Texas-based company is building one of the largest AI data centers on the planet. Meet the Haynes Boone lawyers who advised on the offering, which values the company at more than $13 billion.

October 1, 2025 Allen Pusey

CDT Roundup: A Week of Power Plants, Energy Infrastructure and Another Crypto CapM Deal

The week that ended Sept. 20 saw 24 deals with a reported value of $11.3 billion. There were a lot of deals this week related to energy, infrastructure or AI, or some combination of the three. The largest deals of the week included, perhaps unsurprisingly, a few of the largest players: with San Antonio’s electric utility buying four natural gas plants for $1.4 billion and Blackstone buying a huge natural gas plant in southwest Pennsylvania for $1 billion, give or take a few million or so. That and more in this edition of CDT Roundup.

September 21, 2025 Jason Philyaw