Baker Botts advised fusion developer TAE Technologies Inc. in combining with President Donald Trump’s social media company in a deal valued at more than $6 billion, the firm announced Thursday.
The merger between TAE and Trump Media & Technology Group Corp. would create “one of the world’s first publicly traded fusion energy companies,” the Houston-based law firm said in a statement. TAE is a Foothill Ranch, California firm backed by companies including Alphabet Inc.’s Google and Chevron Corp.
The deal calls for shareholders of each company to own about 50% of the combined firm on a fully diluted basis, according to the statement. Trump Media will be the holding company for businesses including Truth Social, Truth+, Truth.Fi, TAE, TAE Power Solutions, and TAE Life Sciences, among others. Barclays served as TAE’s financial advisor.
Baker Botts, known for its oil and gas legal work, said fusion power plants are “expected to support growing power demand and provide abundant, dependable electricity to fuel AI development and America’s energy security.”
The joint company
To contact the reporter on this story:
To contact the editors responsible for this story:
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.