Dynegy Gets No Other Takers

By Houston Business Journal

Dynegy Inc. on Tuesday said that it did not receive any more ⿿bona fide⿝ buyout proposals as of Jan. 24, the expiration date of its open strategic alternative process.

Dynegy (NYSE: DYN) contacted 50 parties to interest them in a possible deal, the Houston power company said in a statement.

The only deal on the table now the $5.50-per-share, or $665 million proposal by Carl Icahnâ¿¿s Icahn Enterprises LP, which officially expires at midnight. Some analysts had speculated that Icahn might sweeten his offer in the wake of opposition by shareholder Seneca Capital.

Dynegy shares were up 5.4 percent to $6.20 early Tuesday trading.

Goldman Sachs and Greenhill & Co. conducted the go-shop process for the Houston power companyâ¿¿s board.

Copyright 2011 American City Business Journals

http://www.bizjournals.com/houston/news/2011/01/25/dynegy-gets-no-other-takers.html?ana=thestreet

Copyright bizjournals.com 2010

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