Power company Dynegy Inc said on Friday that it would purchase coal and gas power plants for $6.25 billion to increase its presence in two less regulated eastern U.S. markets.Dynegy shares rose as much as 22.5 percent in early trading.The deals for select assets of Duke Energy Corp and Energy Capital Partners will nearly double Dynegy's national generating capacity and allow the company to retail electricity in Illinois, Ohio, Pennsylvania and Michigan, increasing its exposure to the PJM and New England markets.The acquisitions are the latest in a series of deals aimed at minimizing exposure to the volatile wholesale power market, and analysts expect consolidation to continue.
Duke Energy Corporation (Duke Energy) is an energy company. Shares of DUK fell by 0.03% or $-0.02/share to $73.02. In the past year, the shares have traded as low as $64.16 and as high as $75.13. On average, 2711640 shares of DUK exchange hands on a given day and today's volume is recorded at 1408449.
Shares of DYN traded higher by 7.84% or $2.33/share to $32.05. In the past year, the shares have traded as low as $18.11 and as high as $36.57. On average, 956195 shares of DYN exchange hands on a given day and today's volume is recorded at 11525258.
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