Shannon Baldwin represents privately owned and publicly traded companies in securities matters, capital markets, corporate governance, joint ventures, mergers and acquisitions, and master limited partnership (MLP) dropdown transactions. In addition, she represents companies in equity and debt offerings, including public and private issuances and private investment in public equity (PIPE) transactions.
Recent Notable Matters
Phillips 66 — $3.8 billion acquisition of all of the publicly held common units of DCP Midstream, LP in a cash for unit merger transaction
Phillips 66 — realignment of its economic and governance interests in DCP Midstream, LP and Gray Oak Pipeline, LLC through the merger of existing joint ventures owned by Phillips 66 and Enbridge Inc.
Titus Oil & Gas Production, LLC and Titus Oil & Gas Production II, LLC — $627 million divestiture of New Mexico assets located in the northern Delaware Basin owned by Titus Oil & Gas Production, LLC, Titus Oil & Gas Production II, LLC, and their affiliates to Earthstone Energy, Inc. (NYSE:ESTE). The aggregate purchase price consists of $575 million in cash and approximately 3.9 million shares of Earthstone’s Class A common stock valued at $52 million based on a closing share price of $13.51 on June 24, 2022.
DTE Energy Company — underwriters’ counsel in offering of $750 million of senior notes
PPL Electric Utilities Corporation — remarketing of $90 million aggregate principal amount of Pennsylvania Economic Development Financing Authority Pollution Control Revenue Refunding Bonds (PPL Electric Utilities Corporation Project)
PPL Electric Utilities Corporation — $250 million offering of first mortgage bonds
DTE Energy Company — underwriters’ counsel in offering of $230 million of junior subordinated debentures
Evergy Kansas Central, Inc. — counsel for the underwriters in the offering by Evergy Kansas Central, Inc. (formerly Westar Energy, Inc.) of $500 million of first mortgage bonds
DTE Electric Company — underwriters counsel in offering of $1.1 billion of mortgage bonds
Underwriters for Veritex Holdings, Inc. — $75 million offering of fixed-to-floating rate subordinated notes
Woodforest National Bank — proposed sale of its asset-based and equipment finance lending businesses, including $504 million loan portfolio, to Sterling National Bank
Prosperity Bancshares, Inc. — $2.1 billion acquisition of LegacyTexas Financial Group, Inc., which is the second largest bank merger in the history of Texas. Awarded 2020 M&A Transaction of the Year by The Texas Lawbook and the Houston Chapter of the Association of Corporate Counsel.