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Kendall Law Group Investigates Dynegy Inc. Acquisition for Shareholders

^{Published on 2010-08-13 09:46:03 - Market Wire}
 

DALLAS--([ BUSINESS WIRE ])--[ Kendall Law Group ], led by a former federal judge with attorneys that include a former U.S. Attorney, is investigating Dynegy Inc. (NYSE: DYN) for shareholders in connection with the proposed acquisition by an affiliate of The Blackstone Group L.P. The national securities firma™s investigation seeks to determine whether Dynegy and its Board breached their fiduciary duties by entering into the agreement without properly shopping for a deal that would provide better value for shareholders. If you are a Dynegy shareholder and would like additional information about your rights, contact the Kendall Law Group at 877-744-3728 or by email at [ skendall@kendalllawgroup.com ].

On August 13, 2010, Dynegy announced that it has entered into a definitive merger agreement pursuant to which it will be acquired by an affiliate of The Blackstone Group L.P. Under the terms of the agreement, Dynegy stockholders will receive $4.50 in cash for each outstanding share of Dynegy common stock they own. Blackstone has also entered into an agreement with NRG Energy, whereby NRG Energy will acquire assets currently owned by Dynegy for approximately $1.36 billion. The consummation of the merger transaction is contingent upon the concurrent closing of the Blackstone and NRG Energy transaction. Dynegy stock had been trading at above $5.00 per share as recently as mid-June of this year. In addition, according to Thompson/First Call, at least one analyst has set a price target of $7.50 per share.

Kendall Law Group was founded by former federal judge Joe Kendall, includes a former United States Attorney, prosecutors and securities lawyers who are experienced in complex securities litigation. Since leaving the bench and returning to trial work, Mr. Kendall has had tremendous success at the prosecution of patent, consumer and securities class action litigation either as lead, co-lead or liaison counsel. The firm has been counsel in numerous merger and acquisition cases nationwide, including some of the largest transactions in the United States.