Dynegy Board Approves Deal

摘要

Independent power producer Dynegy said it has agreed to be bought by Icahn Enterprises, a firm controlled by billionaire investor Carl Icahn, for $665 million in cash and assumed debt. Under terms of the agreement, Dynegy's stockholders will receive $5.50/share. The company has through Jan. 24 to take additional bids, driving speculation that other buyers could emerge. If no superior bid is received, Dynegy expects the transaction to close in the first quarter of next year.