Two of Texas' largest independent power producers said Monday they would merge in an all-stock deal to create a combined entity with an enterprise value of about $20 billion. Irving-based Vistra Energy, the parent company for TXU Energy and Luminant, said the merger with Houston-based Dynegy Inc. will create a power producer "projected to have lowest cost structure in industry."

The combined entity, with a market capitalization in excess of $10 billion, would serve about 2.9 million retail customers - about 2.7 homes and some 240,000 businesses.

According to the terms of the deal, Vistra shareholders would own nearly 79 percent of Dynegy and the Houston company's shareholders would own about 21 percent of Vistra.

The combined company, to be headquartered in Irving, will be led by Vistra CEO Curt Morgan. The board of directors is expected to have 11 directors - eight current members of the Vistra board and three members from Dynegy's board.

Bob Flexon will continue to serve as Dynegy CEO through April 30, 2019 or the date the transaction closes, whichever comes first.

Presented by Dallas Morning News, October 30, 2017

 
IISD featureIISD feature  

 Featured investor

Irving ISD is the public PreK-12 school district of choice for 35,000+ students in Irving, Texas.

Learn More >>

Irving Supports Local

Irving Supports Local

A comprehensive local business directory for residents, visitors and other businesses to connect.

Learn More >>

Irving, Texas,

By the numbers

The most diverse u.s. zip code, 5 Fortune 500 headquarters

Learn More

Irving-Las Colinas Chamber of Commerce
5201 N. O'Connor Boulevard
Suite 100
Irving, TX 75039

214.217.8484 phone
214.389.2513 fax

Facebook circle white transparent Twitter circle white transparentLinkedIn circle white transparentInstagram circle white transparent

© 2017 Irving-Las Colinas Chamber of Commerce
All Rights Reserved. All Logos and Brands used under
license from their respective owners

logo accreditedlogo hiring heroes2017 Gold Ribbon
TTagLR Gen OrigOnWht