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Texas Business Mergers Keep Coming

Posted on 7/8/2014 by with 0 comments

Merger activity in Texas jumped significantly in the first half of the year, bringing in more business to lawyers and investment banks who help put together the deals, many of which involved energy companies.

And deals are expected to keep coming.

Texas-based companies were involved in at least 255 mergers, acquisitions, joint ventures and divestitures during the first of this year, reflecting a 44 percent increase over the first six months of last year, according to Merger-market, an independent global merger research firm that put together the data for The Texas Lawbook. The numbers reflect deals in which a Texas company is the target of an acquisition.

In fact, those 255 deals are the most of any two consecutive quarters over the past decade and surpassed the total amount of mergers in all of 2009.

Corporate lawyers in Texas say they have never been busier and say the second half of year could be even bigger.

“It feels like 2006 again,” said Andrew Calder, a partner at Kirkland & Ellis in Houston. “The credit markets are wide open, and financing is readily available. The private equity funds have money and are competing against each other.

“We are finally back to the pre-recession levels. It is an exciting time.”

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