Energy Deals Power Mild Increase In Texas M&A Activity
by: Andrew Schneider, October 19, 2012 5:10:00 am
Texas M & A activity for January through September accounted for nearly 280 deals worth more than $93 billion. Energy industry deals dominated the landscape, according to Chad Watt, Texas correspondent for mergermarket.
“You’ve got the ConocoPhillips split. You have several upstream deals. But you also have some very large and interesting midstream deals, highlighted by Kinder Morgan’s deal for El Paso.”
But not all the big transactions involved energy companies. One involved a deal several years in the making — the purchase of Houston-based air conditioning manufacturer Goodman Global by Japan’s Daikin Industries.
“That, beyond the energy space, strikes me as kind of a vote of vote of confidence for global economic growth. You have companies that have stopped waiting for the uncertainties in our world to be resolved and are going about their business.”