Dynegy (DYN) and Blackstone (BX) Agree on $5/Share Merger Proposal

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Dynegy Inc. (NYSE: DYN) announces an amendment to their merger agreement with Blackstone's (NYSE: BX) Denali Parent Inc.:

• The merger consideration is increased to $5.00 in cash per share, an 11% increase to the previously-agreed consideration of $4.50 per share, and an 80% premium to the closing share price on August 12, 2010; and
  
  
• Dynegy has agreed to pay Blackstone a $16.3 million (approximately $0.13 per Dynegy share) break-up fee if the merger is not approved by Dynegy stockholders and if within 18 months Dynegy consummates an acquisition transaction in which Dynegy stockholders receive more than $4.50 per share in consideration.

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