An investigation on behalf of investors of Dynegy Inc. (NYSE:DYN) in connection with the proposed takeover was announced and NYSE:DYN stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 11/06/2017 -- An investigation was announced for investors in NYSE:DYN shares over the takeover of Dynegy Inc. by Vistra Energy.
Investors who purchased shares of Dynegy Inc. (NYSE:DYN) should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.
The investigation by a law firm concerns whether certain directors of Dynegy Inc. breached their fiduciary duties owed to NYSE:DYN investors in connection with the proposed acquisition.
On October 30, 2017, Vistra Energy (NYSE: VST), the parent company for TXU Energyand Luminant, and Dynegy Inc. (NYSE: DYN) announced that their Boards of Directors have approved, and the companies have executed, a merger agreement pursuant to which Dynegy will merge with and into Vistra Energy in a tax-free, all-stock transaction, creating the leading integrated power company across the key competitive power markets in the United States. Under the terms of the agreement, Dynegy hareholders will receive 0.652 shares of Vistra Energy common stock for each share of Dynegy common stock they own. Based on Vistra Energy's closing share price of $20.30 on October 27, 2017 and the aforementioned exchange ratio, Dynegy shareholders would receive $13.24 per Dynegy share.
However, given that at least one analyst has set the high target price for NYSE:DYN shares at $18.00 per share, the investigation concerns whether the offer is unfair to NYSE:DYN stockholders. More specifically, the investigation concerns whether the Dynegy Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.
Those who are current investors in Dynegy Inc. (NYSE:DYN) shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com