Thursday, February 10, 2011

Newco Energy Acquisition Holdings, LLC and Karl W. Miller Commend Seneca Capital and Icahn Group Support for Dynegy and Re-Affirm Their Position; Shareholders Should Reject the Blackstone Group Bid

Mr. Miller was very clear on what must take place at Dynegy to all shareholders. Much money and time has been wasted and we are now back at the starting point. Mr. Miller made clear that the Management team and Board of Directors must be promptly replaced, debt aggressively restructured, a credible business plan put in place and fresh capital must be brought into the Company. Seneca Capital nominees, while a starting point are not enough to do the job; there needs to be a credible senior executive team installed into Dynegy immediately to preserve what shareholder value remains. Newco Energy Acquisition Holdings, LLC and Karl W. Miller Commend Seneca Capital and Icahn Group Support for Dynegy and Re-Affirm Their Position; Shareholders Should Reject the Blackstone Group Bid

No comments:

Post a Comment