Billionaire investor Carl Icahn said he would vote against Blackstone Group’s proposal to buy Dynegy Inc. and would offer a $2 billion line of credit to the struggling power company.
Icahn and hedge fund Seneca Capital, Dynegy’s two largest shareholders, believe Blackstone’s $543 million bid for the company is too low, threatening the deal. Seneca has argued that the company would have more value on its own, but Dynegy has said it could face dire financial problems. Get the full story »
