Why Dynegy Inc's Shares Popped 15% Today
Shares of wholesale power producer Dynegy Inc. (NYSE: DYN) jumped as much as 14.8% in early trading Monday after announcing it is merging with Vistra Energy Corp. (NYSE: VST). At 11:20 a.m. EDT shares were still up 10.3% on the day.
The two energy companies will join forces with Dynegy shareholders getting 0.652 shares of Vistra Energy for each share of stock. At the end of the day, current Vistra shareholders will own 79% of the company and Dynegy shareholders will own 21%. While Dynegy's stock is up on Monday, Vistra's shares are down 4.4%, so the reaction isn't all positive for shareholders.
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Source: Fool.com
