Dynegy Stalls Vote On Blackstone's New Takeover Bid

Law360, New York (November 17, 2010, 12:22 PM EST) -- Dynegy Inc. said Wednesday it had agreed to private equity firm Blackstone Group LP's sweetened offer to snap up the power company for $4.7 billion, but said it would delay a meeting to vote on the bid to give shareholders more time to consider the terms of the revised deal.

The announcement came after Blackstone upped its bid for Dynegy by 11 percent on Tuesday, to $5.00 in cash per share, a move Dynegy deemed “a very important development that Dynegy stockholders should have an opportunity...
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