Ichan Extends Dynegy Buyout Offer

By Houston Business Journal

A day after Dynegy Inc. announced it found no other bidders during its "go-shop" period, investor Carl Icahn extended his offer to buy the company, the company said Wednesday.

Icahn's $665 million bid to buy the struggling power plant operator was set to expire Jan. 25. It is now extended to Feb. 9 to allow time for approval by the Federal Energy Regulatory Commission.

Houston-based Dynegy (NYSE: DYN) said Jan. 25 that it had contacted more than 50 potential buyers, but found none willing to make an competing offer.

Copyright 2011 American City Business Journals

http://www.bizjournals.com/houston/news/2011/01/26/ichan-extends-dynegy-buyout-offer.html?ana=thestreet

Copyright bizjournals.com 2010

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