Dynegy, Illinova to form gas and power major

Dunegy-Illinova combined operations [295,510 bytes] Natural gas and power marketer Dynegy Inc., Houston, and energy services firm Illinova Corp., Decatur, Ill., have signed a definitive merger agreement. The deal is valued at an estimated $2 billion. The firms will join to create a $7.5 billion energy products and services conglomerate. Its operations, mostly in the U.S., will cover a range of sectors, from gas gathering and processing facilities through energy marketing and management services. "The combined company will be a national leader in the rapidly changing (U.S.) energy industry and will be well-positioned to capitalize on opportunities created by en...

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