Most Highly Regarded Firms: Texas 2009 - Mergers & Acquisitions
While the credit crunch takes its toll on M&A work around the world, the energy industry remains in rude health and this continues to drive impressive levels of business in the Texas market.
The research identifies 31 practitioners who are leaders in this area of corporate law.
Baker Botts LLP is the only firm to achieve six listings in this chapter. A "top-quality corporate firm", it has advised clients in the full range of deals ranging in size up to multibillion-dollar international business combinations - "M&A is a hallmark of the firm", according to sources. David Kirkland chairs the corporate practice firmwide and is regarded as "absolutely first rate" by his peers. Fêted for his work in the oilfield service sector, he has worked for clients such as CenterPoint Energy in a $3.6 billion sale and going-private transaction involving Texas Genco Holdings, as well as Hydril in its acquisition by Tenaris and Schlumberger in the acquisition of IT company Sema. Charles Szalkowski is a "top-drawer corporate lawyer", recognised for his work on behalf of the Wedge Group investment firm in relation to purchases and sales of investment positions in portfolio companies. The "outstanding" Andrew Baker maintains an office in both Houston and Dallas and has represented clients such as Halliburton, Electronic Data Systems and MetroPCS.
Stephen Massad is "one of the best lawyers in town" and appears in three chapters of this book. He is well known for his work in the oil and gas, power and chemicals sectors; his clients include Lyondell in multiple acquisitions, as well as Reliant Energy and the Mesa companies. Neel Lemon in Dallas is a "first-class M&A lawyer" who has "done a lot of fine deals", including ACS's $445 million acquisition of HRO business from Mellon, its $94 million acquisition of PASC and its $100 million acquisition of Ascom. John Martin is a new entry in this edition an "acknowledged leader in the state" for outsourcing and technology transactions.
Vinson & Elkins LLP sits close behind in the research with five partners on our list. The firm's lawyers advised clients on mergers, acquisitions and divestitures collectively involving more than $140 billion in 2007, and V&E is "nationally and internationally renowned for corporate work". Michael Wortley is chief operating partner worldwide and "one of the top lawyers in Dallas". He was particularly recommended for his work on behalf of independent oil and gas companies. Scott Wulfe is a "powerhouse lawyer" and recommended across a range of areas, including securities, venture capital and M&A. Jeffrey Chapman is "extremely highly regarded" and was repeatedly recommended for his work on behalf of health-care companies.
Mark Kelly in Houston has represented clients in transactions totalling over $6 billion in the past two years and "stands comparison with anyone you would care to mention", while Alan Bogdanow in the Dallas office is "extremely well versed in all types of corporate transaction".
Weil Gotshal & Manges LLP is internationally renowned for its corporate work, and like V&E provides five partners for our list. Glenn West is the managing partner of the Dallas office and "straight out of the top drawer". His representative clients include Brazos Private Equity Partners, HM Capital Partners and General Electric Capital Corporation, and he is regarded as "the first port of call for many of the biggest names in business". Michael Saslaw is similarly well regarded and has a client list that includes Citigroup, Electronic Data Systems, General Motors and JC Penney. Scott Cohen is a former chairman of the corporations law committee of the business law section of the Texas Bar, and his reputation is further heightened by his "first-class" transactional work on behalf of Viasystems and Dr Pepper/Seven-Up. Jay Tabor has been involved in several high-profile transactions, including NBC Universal in its acquisition (together with Bain Capital and Blackstone Group) of the Weather Channel, and also represented Richard Kinder in the $22 billion buyout (together with Goldman Sachs, Carlyle and AIG) of Kinder Morgan, one of the largest LBOs in history. Mary Korby is "without doubt one of the leading players in this field", and achieved national renown for her representation of American Airlines in its $6 billion acquisition of Trans World Airlines, as well as Enron in its $3 billion disposition of its online energy trading business and other multibillion dollar deals.
Robert Jewell is managing partner of Andrews Kurth LLP and an "excellent all-round lawyer". He is known for his domestic and international M&A work and is considered "one of the foremost corporate lawyers in the state, and in the US overall". Alongside him is the "very fine" Michael O'Leary, who is well regarded for all types of transactional work; on behalf of public and private companies and investment banking firms in relation to the energy and forestry sectors among others.
At Mayer Brown LLP, Marc Folladori is "practical and effective" in his counsel to foreign companies doing business in the US, and his work for investment banks and energy clients in particular drew praise. His colleague Robert Gray is co-leader of the corporate and securities practice and regarded as "hugely knowledgeable" by our sources.
Haynes and Boone LLP is represented by co-founder Michael Boone, described as "very able and hugely smart" and one of the most highly recommended individuals in the research overall. His clients in this field have included ClubCorp, Affordable Residential Communities and Trinity Industries. Wilson Chu appears alongside him for the first time in this edition, head of the firm's Asia practice, his cross-border expertise was the subject of repeated commendations. He has experience in the automotive, energy, financial services, real estate and technology industries and has conducted acquisitions for clients including Dell and AmerisourceBergen.
At Gardere Wynne Sewell LLP Larry Schoenbrun has more than 40 years' experience in corporate and securities matters and is a former chairman of the council of the business law section of the State Bar of Texas. A "very eminent figure in the local market", he was commended for his work on behalf of both buyers and sellers. Lawrence Glasgow is renowned for his expertise in the health-care sector and picked up votes from across the US research.
Byron Egan at Jackson Walker LLP in Dallas once again appears in our list. A vice chair of the negotiated acquisitions committee of the American Bar Association and former chair of the business law section of the State Bar of Texas, he is "immensely able and totally reliable". He was particularly fêted for his articles in this field; "we all rely on his writing," said one peer.
Michael Conlon at Fulbright & Jaworski LLP is another new addition. Partner in charge of the Houston office, he is "well known and universally well regarded" locally for his work in the energy, manufacturing and retail sectors.
Formerly of Fulbright and now at Kelly Hart & Hallman LLP, Charles Still is a "terrific lawyer" and a "real asset to his new firm". Recognised for his experience of international and domestic transactions, he has also acted as arbitrator on disputed M&A matters.
Michael Dillard at Akin Gump Strauss Hauer & Feld LLP "stands out" and heads the firm's energy and global transactions practice. His track record includes several multibillion-dollar transactions, many in the energy industry.
Edgar Marston at Bracewell & Giuliani LLP is another on this list with more than four decades worth of experience in this sector, and is thought to be a "legend in his own lifetime".
Irwin Sentilles at Gibson Dunn & Crutcher LLP "has worked on some great deals", such as representing Atmos Energy in its $1.9 billion acquisition of the operations of TXU Gas and Thousand Trails in its sale to KTTI Holding Company, and earns a place in this edition. A "leading figure on the Texan scene", he appears in three chapters.
Another new entry is Dallas Parker at Thompson & Knight LLP. Managing partner of the Houston office and "first class for energy deals", he represented Rosetta Resources in the acquisition of oil and gas exploration and production businesses owned by Calpine Corporation, as well as Whittier Energy in its merger with Sterling Energy.