Steve Davis Quoted by The Texas Lawbook on Texas M&A Activity
The Texas Lawbook, for its article “M&A Plummets in Texas during H1 2015,” quoted Akin Gump energy partner Steve Davis on the decline in corporate M&A activity involving Texas-based companies during the first half of 2015, according to data from independent global M&A research firm Mergermarket.
The article notes that this downswing is largely due to the decline and instability of crude prices, adding that most oil and gas deals so far this year are being completed out of necessity.
To that point, Davis noted, “Many are mergers that involve two companies with financial challenges trying to see if two plus two could possibly equal five. There are a lot of companies that have a lot of money and kept their powder dry, but are now looking for good buying opportunities.”
Additionally, Mergermarket reported Akin Gump as among the top 20 legal advisers for Texas-based corporate M&A activity during that timeframe.