Tuesday, November 16, 2010

Dynegy Jumps On Speculation Of A Higher Bid

Dynegy Inc. (NYSE: DYN) soared more than 8% after the Wall Street Journal reported that Seneca is likely to make its own acquisition proposal for more than $6 a share if shareholders reject the Blackstone deal. Seneca said Dynegy is worth more than $6 a share when it adds up the sum of the value of Dynegy's assets, substantially more than Blackstone's $4.50-a-share offer. Dynegy shareholders will vote on the Blackstone buyout on November 17.

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