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Tuesday, January 25, 2011

Dynegy received no competing bids for Icahn offer, (NYSE: DYN)

Power producer Dynegy Inc (DYN.N) said nobody stepped forward to top Carl Icahn's $665 million takeover offer, clearing the way for the company to move forward with the billionaire investor's bid. Dynegy said on Tuesday that its advisers Goldman Sachs and Greenhill & Co contacted over 50 parties to determine whether they would be interested in a deal during a so-called "go shop" period that expired on Monday night. While the Houston-based company said it did work with several of these parties, it did not receive any bona fide acquisition proposals during the period.

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