By Editors of Power Engineering
Vistra Energy Corp. and Dynegy Inc. are in late-stage talks for a merger, the Wall Street Journal reported.
The two companies could announce a deal by next week, according to people familiar with the matter. Talks between the two have been ongoing since the spring.
This isn’t the first time a merger has been in the cards for Dynegy, which operates 50 power plants in 12 states. The company once submitted a $8 billion takeover bid for Enron before the energy trader went bankrupt and dissolved.
Dynegy filed its own chapter 11 bankruptcy in 2012, and emerged from the process the same year. This year, Dynegy sold five power generation units to help fund debt reduction.
Vistra, parent company of power producer Luminant and energy retailer TXU Energy, also experienced chapter 11 bankruptcy. The company, then known as TCEH Corp., emerged from the process in 2016 and changed its name to Vistra.