Thursday, 21 August 2014
Last updated 16 min ago
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.
Aug 4 2014 | 7:42am ET
By now, U.S. and international subscribers have received their home or office delivery of the special 500th issue of Futures magazine. You can too!—a very special offer follows. The issue is the 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. Read more…
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 Editor's Note