Shareholders Lash Out At Dynegy, Blackstone Deal

Law360, New York (August 19, 2010, 2:21 PM EDT) -- Dynegy Inc. shareholders have launched a trio of potential class actions in an attempt to stop Blackstone Group LP from acquiring the company for $4.7 billion, saying the bid prices Dynegy at well below market value.

The complaints, filed Tuesday and Wednesday in Delaware Chancery Court, say the $4.50 per share that Blackstone agreed to pay for Dynegy is a "woefully inadequate" premium on the Aug. 12 stock price of $2.76 per share — a 52-week low. The 52-week high, by contrast, was $13.35 per share....
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