Seneca Rep. Named CEO Of Dynegy

Apr 11 2011 | 1:56pm ET

Round one of the battle over the future power company Dynegy went to Seneca Capital, when it helped beat back Icahn Enterprises' $665 million takeover bid for the company. Round two went to Icahn, which won two seats on Dynegy's interim board of directors after its old board resigned en masse, to Seneca's one. But Seneca may yet have the last laugh.

Seneca's one representative on the Dynegy board, E. Hunter Harrison, has been named interim president and CEO of the company, as well as head of its governance and nominating committee. Harrison replaced David Biegler, who replaced Dynegy's former CEO after he resigned in the wake of the Icahn bid's proxy defeat.

Seneca, which has a 12% stake in Dynegy, is the company's second-largest shareholder after Icahn.


In Depth

Q&A: Quad Advisors’ Borish Is Looking For Real Traders, Not Index Huggers

Aug 20 2014 | 1:43pm ET

Peter Borish, who served as founding partner and director of research at Tudor Investment...

Lifestyle

Viking Manager In Rent Dispute

Aug 11 2014 | 4:14am ET

A hedge fund manager is demanding most of his money back from his former landlord...

Guest Contributor

Majority Of Inflows Go To Brand Name Hedge Funds

Aug 12 2014 | 9:00am ET

Since the market correction of 2008, a vast majority of hedge fund net asset flows...

 

Editor's Note

 

Futures Magazine

PREVIEW July/August 2014 Cover

Inside Futures' 500th Issue

The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.

The Alpha Pages

TAP July/August 2014 Cover

Real talk on alternative investments, business & finance

The Alpha Pages Editor's Note