Shell to Exit Permian Basin; ConocoPhillips Set to Buy Assets
In a $9.5 billion all-cash deal, Houston's ConocoPhillips is snapping up Shell's remaining assets in west Texas. Baker Botts and Norton Rose Fulbright advised.
CDT Roundup: 17 Deals, 11 Firms, 103 Lawyers, $10.6B
Latham & Watkins' Justin Stolte caught up with The Texas Lawbook as the firm's Houston office works to service client demands spurred along by the energy transition and a meaningful uptick in commodity prices. And in last week's deal activity, more than 100 Texas-based lawyers participated in more than $10.6 billion worth of deals.
CDT: Texas Firm Rank All-M&A Parties
This ranks lead participation by law firms in which Texas offices were led the legal advisory teams for any parties of a merger, acquisition, divestiture or joint venture reported to or by The Texas Lawbook during the first six months of 2021 — whether or not values were disclosed.
CDT Roundup: 13 Deals, 89 Lawyers, 10 Firms, $7.22B
It's the threat to financing conditions that's keeping commercial bankers up at night as they contemplate inflation's relationship to M&A through the end of the year. Yet, like the nagging possibility of Covid-related shutdowns or uncertainty tied to changes in federal tax policies, it's a matter of sector for investors on both the buy- and sell-sides. In Texas dealmaking last week, strategic acquisitions had a moment as 89 lawyers played a part in 13 deals.
Top Texas Firms Join BigLaw’s Fight Against Lawsuits Alleging SPACs are Investment Companies
The incredible volume of SPAC investment and activity has encouraged plaintiffs' attorneys to seek creative arguments to challenge the SPAC structure. Three derivative lawsuits filed in August in the Southern District of New York sparked an official response from nearly all of the leading transactional firms in the U.S. This article describes the implications on the SPAC practice going forward.
DBJ: Dallas SPAC Gets Approval for Merger, Doesn’t Have Required Cash
The Dallas blank check company has until the end of the month to pull together the required capital.
CDT Roundup: 12 Deals, 63 Lawyers, 9 Firms, $763M
Non-traditional investors have been making waves in the valuation game in 2021 – and the deployment of Texas capital is no exception. And in dealmaking last week, growth equity and other capital infusions had a moment in the week's 12 reported transactions.
CDT Lead Texas M&A Law Firms for H1 2021
Corporate Deal Tracker: Law firms in which Texas lawyers were the lead legal advisors for the buyers, sellers or targets of a merger, acquisition, divestiture or joint venture during the first six months of 2021.
Houston’s Golden Nugget Online Gaming to Join DraftKings in All-stock Deal
Another asset of Houston billionaire Tilman Fertitta is making moves. DraftKings plans to acquire Golden Nugget Online Gaming – the i-gaming arm of the casino empire taken public via a de-SPAC merger last year – in an all-stock deal as Latham & Watkins, Sullivan & Cromwell, White & Case and Vinson & Elkins advise.
CDT Roundup: 21 Deals, 9 Firms, 142 Lawyers, $7.7B
Traditional oil and gas looking to make headway in the energy transition space scored a win last month thanks to new guidance from the IRS. Houston-based Latham & Watkins partner Jim Cole broke down the impact of the ruling on retrofits. And in the Roundup, it was a big week for IPOs with ties to Texas counsel as de-SPAC mergers dipped slightly after last week's flurry.