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Fly News Breaks for May 22, 2017
VST, DYN
May 22, 2017 | 09:10 EDT
Last week, the Wall Street Journal reported Vistra Energy (VST) had made a takeover approach to acquire Dynegy (DYN). Morgan Stanley analyst Devin McDermott views the potential merger as an attractive potential way to create value given improved cash flows from synergies, stronger credit metrics, portfolio diversification, and deleveraging. The analyst sees further upside for Dynegy shares and believe a buyout price could be $14-$15 per share and reiterates his Overweight rating and $15 price target.
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