secwatch.observer — SEC 8-K summary
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Issuer:     Vistra Corp. (VST)
CIK:        0001692819
Form:       8-K
Filed at:   2026-01-05T23:59:59+00:00
Accession:  0001193125-26-002589
Event type: m_and_a
Sentiment:  positive
Materiality: 0.90
Item codes: 1.01, 3.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Vistra acquires Cogentrix Energy's 5,500 MW natural gas fleet for ~$4.0B net
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- Vistra to buy 10 gas plants (5,496 MW) from Quantum Capital Group.
- Net purchase price ~$4.0B: $2.3B cash, 5M shares at $185, plus $1.5B debt assumed, less $0.7B tax benefits.
- Implies 7.25x 2027E EBITDA and ~$730/kW; expected mid-single-digit AFCFbG per share accretion in 2027.
- High single-digit average AFCFbG accretion over 2027-2029; deal expected to exceed mid-teens levered return target.
- Vistra reiterates $300M annual dividends and at least $1B share repurchases; close expected mid-to-late 2026.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1692819/000119312526002589/0001193125-26-002589-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1692819/000119312526002589/d62722d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-26-002589

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