Dynegy Inc. (NYSE:DYN) was founded in 1984 and is headquartered in Houston, Texas, with 2,457 full-time employees. Through its subsidiaries, it is engaged in the production and sales of electric power and related supporting facilities in the United States service.
On October 30, 2017, Vistra Energy Corp stated that it acquired Dynegy Inc in an all-stock transaction with a total price of US$1.74 billion, and merged two power producers headquartered in Texas to cope with the declining profitability of the industry. The latest merger.
Dynegy Inc. (DYN):
Dynegy Inc., through its subsidiaries, produces and sells electric energy, installed capacity and supporting services in the United States. Its business operations are divided into coal, Illinois Power Holdings (IPH) and natural gas.
As of February 26, 2016, Dynakie sold its services in a wholesale manner from its power generation facilities. It currently has 35 power plants in the United States with a total power generation capacity of nearly 26,000 MW.
Dynegy Inc. customers include regional power transmission organizations, independent system operators, integrated utilities, municipalities, power cooperatives, power transmission and distribution companies and power brokers, financial companies (such as banks and hedge funds), residential, commercial and industrial end users.
Dynegy Inc. (DYN) History:
- In 1984, Natural Gas Clearinghouse was established as the predecessor of Dynegy Inc., originally an energy broker;
- In 1995, Natural Gas Clearinghouse entered the field of power generation and the company was renamed NGC Corporation;
- In June 1998, the company changed its name to Dynegy Inc.;
- In 2001, Dynaki tried to acquire Enron Corporation (formerly NYSE: ENE, delisted), an energy trading company , but failed;
- In 2002, Dynegy Inc. was close to bankruptcy;
- On August 13, 2010, Blackstone Group announced plans to acquire Dynegy for US$4.7 billion;
- On December 15, 2010, Karl Icahn announced a bid for Dynegy at US$5.50 per share;
- In November 2011, the subsidiary Dynegy Holdings went bankrupt;
- On July 6, 2012, Dynegy Inc. filed for bankruptcy protection, and on October 2nd of the same year, it was released from bankruptcy protection;
- In mid-March 2013, Dynakie acquired three power subsidiaries of Ameren for US$900 million , including: Ameren Energy Generating Co. (Genco) and Genco’s equity in Electric Energy Inc., Ameren Energy Resources Generating Co., Ameren Energy Marketing Co. established a branch-Illinois Power Holdings (IPH);
- On August 22, 2014, Dynegy Inc. announced that two acquisitions were going on at the same time: the acquisition of Midwest Generation assets and energy retail business under Duke Energy for US$2.8 billion in cash; and the acquisition of the power generation business of EquiPower Resources for US$3.45 billion. After the completion of the acquisition, Dynaki’s power generation capacity increased from 13,000 MW to 26,000 MW.