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FERC Approves Vistra-Dynegy Merger, Companies Set Closing Date

April 05,2018

FERC has approved the transaction between Dynegy Inc. (Dynegy) and Vistra Energy Corp. (Vistra) under which Dynegy will merge with and into Vistra, with Vistra being the surviving corporation. FERC approval was the final regulatory condition needed for closing of the merger

The companies have agreed to close the merger on or around April 9, 2018, subject to the satisfaction or waiver of the outstanding conditions to closing described in their prior Agreement and Plan of Merger, dated as of October 29, 2017. The companies said that there can be no assurance that any of the outstanding conditions to closing will be satisfied or waived or that other events will not intervene to delay or result in the failure to consummate the Merger.

As previously reported, the Texas PUC recently approved the merger, without requiring any divestitures as, after the PUCT ruled on how the combined firm's share should be calculated, the merged company will have less than 20% ERCOT market share in terms of capacity

M&A   Vistra Energy   Dynegy   TXU   Texas  

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