The first six months of 2020 downright sucked for corporate M&A law firms. New Mergermarket data shows that 11 of the top 12 corporate practices did fewer transactions involving Texas-based businesses than they did the year before. For the first time in 13 years, no firm reported working on at least 30 Texas transactions. The Texas Lawbook has the law firm rankings.
M&A Hits Lowest Mark Since 2009
UPDATED: Texas-headquartered dealmaking has plummeted to historic levels in 2020. The second quarter had only 89 deals, only one more than Q1 2009, at the nadir of the Great Recession. The Texas Lawbook has the numbers and they include a nearly 94% drop in year-over-year value from 2019.
CDT Roundup: 8 Deals, 10 Firms, 50 Lawyers, $6.9B
The oil and gas industry is still reeling from “Black April” — when the NYMEX oil benchmark hit bottom and kept going. Last week two major price reporting agencies launched their own benchmarks aiming to solve the problem by setting the price of Texas oil in Texas.