Why Vistra stock is sliding after the $4.7 billion Cogentrix deal
Vistra Corp shares dropped 8% to $155.93 after Moody’s revised its outlook to stable from positive, citing the company’s $4.7 billion deal to buy Cogentrix’s 5.5-GW gas portfolio. Vistra plans to finance the purchase partly with up to $2 billion in bridge loans from Goldman Sachs. Other U.S. power producers also traded lower. Investors await updates on financing and regulatory reviews.