Vistra Energy (VST) approached rival Dynegy (DYN) with a takeover offer, sources told the Wall Street Journal, a potential marriage that could result in the combined company becoming one of the country's largest independent power producers.
The talks are only preliminary, and could conclude without a deal being struck, sources said, but both Texas-based companies have an enterprise value of about $10 billion.
Vistra shares were up 1.3% in morning trading Friday on the news, while Dynegy stock jumped more than 25% on Friday.
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