$VST · Vistra Corp.
Vistra Corp. filed an 8-K reporting completion of its acquisition of Cogentrix Energy from Quantum Capital Group funds on October 30, 2026. Consideration was approximately $2.2 billion in cash (net of working capital, acquired cash, and assumption of ~$1.7 billion of acquired indebtedness) plus 5,000,000 shares of Vistra common stock issued at a mutually agreed value of $185 per share. The deal adds 10 natural gas facilities totaling ~5,500 MW, bringing Vistra's portfolio to nearly 50,000 MW.
- Cash consideration of ~$2.2B, net of adjustments, plus 5M shares valued at $185/share.
- Assumed ~$1.7B of outstanding indebtedness of the acquired company at closing.
- Adds 10 natural gas plants totaling ~5,500 MW across PJM, ISO-NE, and ERCOT.
- Brings Vistra's total generation portfolio to nearly 50,000 MW across the U.S.
- Follows Energy Harbor (March 2024) and Lotus Infrastructure Partners (October 2025) acquisitions.
Price data unavailable.
A multi-billion-dollar, debt-assuming acquisition that materially scales Vistra's gas generation in high-demand power markets.
Expands Vistra's gas fleet in fast-growing power regions, continuing its roll-up of generation assets amid rising electricity demand.
Integration risk from absorbing 10 facilities and ~$1.7B of assumed debt; execution risk across three distinct ISOs.