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Texas M&A Transaction Activity for Baker Botts Nears $27 Billion for 2012

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HOUSTON, October 25, 2012 -- Through the first nine months of 2012, Baker Botts lawyers provided legal counsel on 30 major merger and acquisition transactions for Texas-based clients valued at nearly $27 billion, according to the most current league tables released this month by mergermarket, an m&a intelligence service that is part of The Financial Times publishing group.

Baker Botts lawyers represented clients in three of the Top 10 transactions in the Lone Star State so far this year. These matters were:

  • The representation of the senior leadership team of EP Energy in establishing new terms and conditions of employment and executive compensation during its acquisition by Apollo Global Management, with an approximate deal value of $7.15 billion. Ted Paris served as the lead corporate partner on the transaction and worked in conjunction with several of the Firm’s tax and employee benefits and executive compensation lawyers; 
  • The representation of the conflicts and audit committees of Kinder Morgan Management, LLC and the general partner of Kinder Morgan Energy Partners, L.P. (KMP) in negotiating KMP’s acquisition of all of Tennessee Gas Pipeline Company and a 50% interest purchase in El Paso Natural Gas Company from Kinder Morgan Inc., with a total aggregate deal value of $6.22 billion. Josh Davidson served as the lead corporate lawyer on the matter.

  • The representation of Cheniere Energy Partners, LP and Cheniere Marketing, LLC (“CML”) in a 20-year LNG sale and purchase agreement (“SPA”) as part of Cheniere Energy’s agreement to sell $1.5 billion in stock to investors affiliated with Blackstone Group LP. Steven Miles, head of the firm’s LNG practice, served as the lead lawyer on the matter.

During the first nine months of 2012, Baker Botts climbed to No. 2 in mergermarket’s Texas league tables for number of transactions -- 30 in 2012 compared to 16 through the same time period of 2011.

“M&A activity in Texas and throughout the energy industry should remain strong through the rest of this year and into 2013,” said David Kirkland, chair of Baker Botts’ Corporate Practice. “A number of companies continue to look for businesses that will add value as they seek to position themselves for changes that may affect the sector over the next few years.”

About Baker Botts
Baker Botts is an international law firm with over 725 lawyers and a network of 14 offices around the globe. Based on our experience and knowledge of our clients’ industries, we are recognized as a leading firm in the energy, technology and life sciences sectors. Throughout our 172-year history, we have provided creative and effective legal solutions for our clients while demonstrating an unrelenting commitment to excellence. For more information, please visit www.bakerbotts.com.

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