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

High Time For A Cannabis Hedge Fund?

Sep 30 2014 | 7:07am ET

Launching a hedge fund is always a gamble, but Leslie Bocskor's decision to launch...

Lifestyle

Griffin Donates $1M To Rauner's Illinois Gov. Campaign

Sep 22 2014 | 9:29am ET

Hedge fund billionaire Kenneth Griffin definitely has a dog in this fight. The Citadel...

Guest Contributor

Appraisal Ratio Key To Evaluating Hedge Funds And Other New Investments

Sep 29 2014 | 3:07pm ET

As a former finance professor Peter Hecht experiences heartburn every time he hears...

 

Videos

Editor's Note

    Must Attend Hedge Fund Charity Events For October

    Sep 30 2014 | 9:29am ET

    The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…

 

Futures Magazine

September 2014 Cover

High frequency market making

High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.