Summary
NEW YORK (Reuters) - Dynegy Inc.'s top management announced their resignations on Sunday [Feb. 20] after failing to sell the company for the second time in a year.
The power company terminated its $665 million deal to sell itself tobecause the billionaire investor was unable to convince shareholders to agree to the $5.50 per share cash bid on the table. Dynegy shares closed on Friday [Feb. 18] at $6.01 - 9.3 percent above Mr. Icahn's bid.See the full content of this document
Extract
Dynegy Management to Quit; Merger Pact Cancelled
Bruce Williamson will resign as president and CEO, effective March 11. Mr. Williamson has also resigned as a director and chairman of the board, effective immediately.
David Biegler, currently an independent Dyn...See the full content of this document
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