Icahn Buys Power Producer Dynegy for $665 Million

Billionaire investor Carl Icahn’s firm, Icahn Enterprises, will buy power producer Dynegy for $665 million in cash, Reuters reported. The deal comes after Dynegy rejected a $602 million bid from buyout shop Blackstone at the end of November. Dynegy's current debt stands at $3.95 billion, Reuters said. Goldman Sachs and Greenhill & Co advised Houston-based Dynegy on the deal.

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