The following deals, involving at least one Texas-based company, were announced in 2013. Sources include Texas Lawyer, The AmLaw Daily, Thomson Reuters and corporate press releases.
DELL INC. buyout by MICHAEL DELL AND SILVER LAKE PARTNERS
Description: Dell founder Michael Dell, along with Silver Lake Partners, took Austin-based Dell Inc. private in a deal valued at about $24.9 billion. Closed in October 2013.
Counsel for Dell: Hogan Lovells
Counsel for Dell board special committee: Debevoise & Plimpton
Counsel for Michael Dell and Silver Lake Partners: Wachtell, Lipton, Rosen & Katz; Simpson Thacher & Bartlett; Blake Cassels & Graydon; Fangda Partners; Clifford Chance; Rahmat Lim & Partners
SYSCO CORP. acquisition of US FOODS
Description: Sysco Corp., based in Houston, announced it would acquire US Foods in a deal valued at about $8.2 billion. Pending.
Counsel to US Foods: Simpson Thacher & Bartlett; Debevoise & Plimpton; White & Case
Counsel to Sysco: Wachtell, Lipton, Rosen & Katz; Arnall Golden & Gregory
BMC SOFTWARE acquisition by INVESTMENT GROUP
Description: BMC Software, based in Houston, went private after an investor group led by Bain Capital and Golden Gate Capital, with GCI Special Investments and Insight Venture Partners, acquired its stock in a deal valued at about $6.9 billion. Closed in September 2013.
Counsel for BMC: Wachtell, Lipton, Rosen & Katz
Counsel for private investor group: Kirkland & Ellis; Sidley Austin; Willkie Farr & Gallagher; Skadden, Arps, Slate, Meagher & Flom; Loyens & Loeff
INVESTMENT GROUP acquisition of THE NEIMAN MARCUS GROUP
Description: Affiliates of Ares Management of Los Angeles and Toronto-based CPPIB acquired Dallas-based Neiman Marcus Group for $6 billion. Closed in October 2013.
Counsel to Neiman Marcus: Cleary Gottlieb Steen & Hamilton
Counsel to Neiman Marcus management: Morgan Lewis & Bockius
Counsel to Ares Management and CPPIB: Proskauer Rose; Latham & Watkins; Torys
DEVON ENERGY CORP. acquisition of EAGLE FORD ASSETS FROM GEOSOUTHERN ENERGY
Description: Devon Energy Corp., based in Oklahoma City, acquired Eagle Ford oil play assets from privately held GeoSouthern Energy, based in The Woodlands, for $6 billion in cash. Closed in February 2014.
Counsel to Devon: Skadden, Arps, Slate, Meagher & Flom
Counsel to GeoSouthern: Simpson Thacher & Bartlett
PVR PARTNERS acquisition of REGENCY ENERGY PARTNERS
Description: Regency Energy Partners of Dallas acquired PVR Partners of Radnor, Pa., in a deal valued at $5.6 billion. Closed in March 2014.
Counsel to Regency: In-house; Baker Botts
Counsel to PVR: Vinson & Elkins
AMERICAN AIRLINES merger with US AIRWAYS GROUP
Description: AMR Corp., the Fort Worth-based parent of American Airlines, merged with US Airways Group Inc. to form American Airlines Group Inc. in a deal valued at $5.5 billion.
Counsel to US Airways: Latham & Watkins; O’Melveny & Myers; Cadwalader, Wickersham & Taft; Dechert; Davies Ward Phillips & Vineberg; Duane Morris; Creel, Garcia-Cuellar y Muggenburg
Counsel to AMR: Weil, Gotshal & Manges; Jones Day; Paul Hastings; Debevoise & Plimpton; K&L Gates; Dechert
FIELDWOOD ENERGY LLC acquisition of assets from APACHE CORP.
Description: Fieldwood Energy, a portfolio company of New York City private investment firm Riverstone Holdings, acquired Gulf of Mexico Shelf operations and properties from Apache Corp. of Houston for about $5.25 billion, including $3.75 billion in cash and $1.5 billion in assumed liabilities. Closed in September 2013.
Counsel to Apache: In-house; Bracewell & Giuliani;
Counsel to Fieldwood: Vinson & Elkins; Simpson Thacher & Bartlett
KINDER MORGAN ENERGY PARTNERS (KMP) acquisition of COPANO ENERGY
Description: Kinder Morgan Energy Partners, based in Houston, acquired Houston-based Copano Energy for about $5 billion. Closed in May 2013.
Counsel to KMP: In-house; Bracewell & Giuliani; Weil, Gotshal & Manges
Counsel to Copano: Wachtell, Lipton, Rosen & Katz
Counsel to TPG, Copano’s largest unit-holder: Vinson & Elkins
CROWN CASTLE INTERNATIONAL CORP. acquisition of lease rights and towers from AT&T
Description: Crown Castle International Corp., based in Houston, paid AT&T of Dallas $4.83 billion to lease 9,000 wireless towers and purchase 600 towers. Closed in December 2013.
Counsel to AT&T: Sullivan & Cromwell; Bryan Cave
Counsel to Crown Castle: Cravath, Swaine & Moore
Top Texas IPOs in 2013
|Company||City||Date of Issue||Proceeds||Company’s Counsel||Managers||Manager’s Counsel|
|Plains GP Holdings||Houston||Oct. 15, 2013||$2,912.4 million||Vinson & Elkins||Barclays; Goldman Sachs & Co.; JP Morgan Securities; Bank of America Merrill Lynch; Citigroup Global Markets; UBS Securities; Wells Fargo Securities||Baker Botts|
|Frank’s International||Houston||Aug. 8, 2013||$759.0 million||Vinson & Elkins||Barclays; Credit Suisse; Simmons & Co. International; Citi; Morgan Stanley; Goldman Sachs & Co.; UBS Securities||Latham & Watkins|
|Cheniere Energy Partners||Houston||Dec. 12, 2013||$720.0 million||Andrews Kurth||Goldman Sachs & Co.; Morgan Stanley; Credit Suisse; RBC Capital Markets||Vinson & Elkins|
|CVR Refining||Sugar Land||Jan. 16, 2013||$690.0 million||Vinson & Elkins||Credit Suisse; Citi; Barclays; UBS Investment Bank; Jefferies & Co.||Latham & Watkins|
|Phillips 66 Partners||Houston||22-Jul-13||$434.4 million||Latham & Watkins||JP Morgan Securities; Morgan Stanley; Bank of America Merrill Lynch; Barclays; Credit Suisse; Deutsche Bank Securities Corp.; Citi; RBC Capital Markets||Andrews Kurth|
|Valero Energy Partners||San Antonio||Dec. 10, 2013||$396.8 million||Baker Botts||JP Morgan; Barclays; Citigroup Global Merkets; RBC Capital Markets; Wells Fargo Securities||Latham & Watkins|
|Midcoast Energy Partners||Houston||Nov. 6, 2013||$383.0 million||Latham & Watkins||Bank of America Merrill Lynch; Barclays; Citigroup Global Markets; Credit Suisse Securities; Deutsche Bank Securities; Goldman Sachs & Co.; JP Morgan; Morgan Stanley; Wells Fargo Securities; UBS Investment Bank||Baker Botts|
|Athlon Energy||Fort Worth||Aug. 1, 2013||$362.8 million||Latham & Watkins||Citi; Goldman Sachs & Co.; Bank of America Merrill Lynch; UBS Securities; Wells Fargo Securities||Baker Botts|
|OCI Partners||Nederland||Oct. 3, 2013||$362.3 million||Latham & Watkins||Bank of America Merrill Lynch; Barclays; Citigroup Global Markets||Andrews Kurth|
|CyrusOne||Carrollton||Jan. 17, 2013||$360.5 million||Cravath, Swaine & Moore; Skadden, Arps, Slate, Meagher & Flom; Venable||Morgan Stanley; Bank of America Merrill Lynch; Deutsche Bank Securities; Barclays||Latham & Watkins|
|Source: Thomson Reuters|