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Energy Deals Power Mild Increase In Texas M&A Activity

Texas merger and acquisition activity for the first three quarters of 2012 rose 5% compared to the same period last year.

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.”

 

 

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Andrew Schneider

Andrew Schneider

Politics and Government Reporter

Andrew heads Houston Public Media’s coverage of national, state, and local elections. He also reports on major policy issues before the Texas delegations in the U.S. House and Senate, as well as the Texas governorship, the state legislature, and county and city governments. Before taking up his current post, Andrew...

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