Statoil turns to Vinson & Elkins for legal counsel over $ 4.4 billion deal
Statoil, Norwegian Energy Company, has plans to take over Austin, Texas–based Brigham Exploration. The deal of $4.4 billion cash was announced on Monday. This deal is Statoil's strategy of expanding grip in various unconventional energy resources. Vinson & Elkins is appointed as the legal adviser to Statoil. The firm will provide counseling to Statoil on the transaction. Vinson & Elkins energy partner John Connally and M&A partner Jeffery Floyd is directing the team. Thompson & Knight will be providing legal counseling to Brigham for the deal that values Brigham stock 36 percent premium above its average trading price over the past 30 days.