Vistra Energy, Dynergy complete merger
Vistra Energy completed its previously announced merger with Dynegy this week after stockholders from both companies overwhelmingly approved the deal.
Vistra Energy, which is the parent company for TXU Energy and Luminant, will be the name of the combined company. It will continue to trade on the New York Stock Exchange under the current ticker symbol for Vistra Energy.
The combined company will employ about 6,000 people across 12 states. The company will serve about 2.7 million residential customers and 240,000 commercial and industrial retail customers.
Further, Vistra has about 40,000 megawatts of installed generation capacity, which is approximately 60 percent natural gas-fueled. About 84 percent is located within the ERCOT, PJM, and ISO-NE competitive power markets.
“With this combination completed, Vistra Energy is now positioned to be the leading integrated power company in the United States,” Vistra Energy President and Chief Executive Officer Curt Morgan said. “We further believe our low-cost structure, diversified business operations, and strong balance sheet create the platform to produce significant shareholder value, as demonstrated by our stated expectation to exceed our previously communicated merger-related synergy and operational improvement targets,” Morgan added.