Vistra Energy Corp (NYSE:VST)’s Dynegy Acquisition Latest Of Several Recent Energy Deals To Close


Vistra Energy Corp (NYSE:VST), which is based in Irving, Texas has announced the acquisition of Dynegy (NYSE:DYNC), which is based in Houston. In line with the acquisition agreement, three directors of Dynegy, John Sult , Paul Barbas and Hilary Ackermann will join the board of director of Vistra. With these additions, Vistra’s board of directors will be expanded to 11 members.

The deal, which is valued at $1.74 billion and to be settled in stock, was first revealed last fall and Dynegy were called to get 0.652 shares of Vistra Energy common stock for every Dynegy share that they had.  This will lead to existing shareholders of Vistra owning around 79% of the new combined company and former shareholders of Dynegy owning 21 %.

Combined together, the new company has around 6,000 workers spread in 12 states and is one of the leading integrated power companies. It has a portfolio consisting of around 2.7 million residential customers plus around 240,000 industrial and commercial customers. The company owns about 40,000 megawatts of installed and operational power generation capacity. The combine office will have its offices in Illinois, Collinsville, Cincinnati and Houston.

A number of other energy deals have also been sealed in the recent days.

Transocean’s Songa acquisition

Transocean LTD (NYSE:RIG), which is based in Switzerland and has its US offices in Houston has purchased the remaining shares of Songa Offshore SE. The deal was initiated with a voluntary exchange offer and initially Transocean acquired 97.5 percent of Songa’s total shares. The deal was valued at $3.38 billion.

Borr’s Paragon acquisition

The tender off to buy the total outstanding shares of Paragon Offshore Ltd came to a deadline on March 27. 99% of the shares had been tendered at the time and the shareholders were expected to get over $43.88 per share on March 29. The transaction was valued at $232.5 million.

Halcón and Wildhorse asset deals

Halcón Resources Corp, which is based in Houston and WildHorse Resource Development Corp. (NYSE:WRD) have announced separate assets deals. Wildhorse finalized he sale of its North Louisiana assets valued at $217 million to an undisclosed buyer.


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