COMPANY NEWS: Dynegy to buy Enron in multibillion dollar stock deal

11/19/2001
Dynegy Inc. agreed Nov. 9 to buy bigger rival Enron Corp. in a stock deal valued at $8.5 billion and to assume $15 billion of Enron debt. Dynegy predicted the deal will increase its annual earnings growth by 15-20% over the next 3 years.Separately, BC Gas Inc., Vancouver, BC, agreed to acquire two business units from Westcoast Energy Inc., also of Vancouver, for $208 million (Can.). The acquisition of Centra Gas British Columbia and Centra Gas Whistler Inc. gives BC Gas control of all Centra Gas's Vancouver Island and British Columbia coastal assets.Dynegy-EnronAnalysts praised the merger of the two Houston companies as a good move for Dynegy; however, Fitch put Dynegy on ratings watc...
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