Saturday, 25 October 2014
Last updated 22 hours ago
Nov 23 2010 | 2:09pm ET
Despite a last-minute sweetener from the Blackstone Group and desperate urgings from Dynegy Inc.'s management, the $600 million deal is dead.
The private equity firm and the power company agreed to scrap the takeover deal in the face of stiff investor opposition. Last week, Blackstone boosted its bid by more than 10% and Dynegy extended the deadline for shareholders to vote in an effort to boost the flagging effort, which is vocally opposed by hedge funds Icahn Associates and Seneca Capital, who together own nearly 20% of Dynegy's shares.
Dynegy CEO Bruce Williamson called out both firms in announcing the end of the Blackstone bid.
"We will immediately engage interested parties, including Seneca Capital and Icahn Associates, who may have an interest in making an offer to acquire Dynegy," Williamson said.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
David and James Hamman launched their fundamental Livestock and Grains Program in March of 2010 but it really was decades in the making.