---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-123660"
form_type: "8-K"
ticker: "VST"
cik: "0001692819"
company_name: "Vistra Corp."
filed_at: "2025-05-21T23:59:59+00:00"
generated_at: "2026-05-20T22:37:45.388601+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.78
calibrated_materiality_score: 0.78
confidence: "high"
source: SEC EDGAR
---

# Vistra to acquire 2.6 GW of natural gas assets from Lotus for $1.9B

## Summary
- Seven natural gas facilities totaling 2,557 MW for $1.9B, or ~$743/kW; includes Fairless (1,320 MW), Manchester (510 MW), etc.
- Acquisition expected to be accretive to Ongoing Operations AFCFbG in the first year after closing.
- Funding via assumed term loan (~50% of consideration) and cash on hand; $76M termination fee if regulatory approvals blocked.
- Closing targeted for late 2025 or early 2026 subject to FERC, HSR, and NY PSC approvals.
- Vistra reaffirms capital plan: $300M annual dividends, at least $1B annual buybacks, net leverage <3x.

## SEC filing metadata
- accession: 0001193125-25-123660
- form_type: 8-K
- ticker: VST
- cik: 0001692819
- company_name: Vistra Corp.
- filed_at: 2025-05-21T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.78
- calibrated_materiality_score: 0.78
- confidence: high
- sec_items: 1.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1692819/000119312525123660/0001193125-25-123660-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1692819/000119312525123660/d948204d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-123660
- JSON: https://secwatch.observer/filing/0001193125-25-123660.json
- Plain text: https://secwatch.observer/filing/0001193125-25-123660.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.