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Dynegy surges on reports Vistra Energy is mulling a bid

This could be the start of the consolidation of the power production industry that many analysts have been predicting
Power plant chimeys
Independent power producers are beset by challenges

Debt-laden power producer Dynegy Inc (NYSE:DYN) had a power surge on Friday morning on reports that Vistra Energy Corp (NYSE:VST) was mulling a bid.

The Wall Street Journal reported that Dallas-based Vistra is in talks to buy Dynegy as a means of expanding its footprint beyond Texas.

Although Dynegy is also based in Texas, it has 50 plants across the country.

Shares in Dynegy were up 23% at US$8.95 in lunchtime trading, while Vistra shares, up 22 cents at US$15.02, were also wanted.

Power producers have been under pressure from sliding wholesale prices of late, as demand has been sluggish and competition from renewable energy sources has started to bite.

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