Dynegy defends itself over Blackstone deal
Power company Dynegy Inc has sent a letter to all its shareholders arguing for the proposed sale to private equity firm Blackstone, which has been criticized by investor Carl Icahn. The letter argued that remaining a standalone company would not be permitted under its present credit facility and would impact the company’s balance sheet negatively. Blackstone agreed to buy Dynegy for $4.7 billion in August, with a $1.36 billion deal signed at the same time to sell four natural gas power plants NRG Energy Inc. Icahn is arguing that the deal undervalues the company.
19 October 2010•2 mins read
