Friday, May 23, 2008

Dynegy, a Dark Horse Again? (CPN; DYN; NRG)

From DealBook:

For people outside the power industry, Dynegy may be best remembered as the company that made a daring bid to buy Enron as that energy giant spiraled toward bankruptcy.

That offer got withdrawn, but at least one analyst sees a possibility that Dynegy could attempt another audacious takeover. Lasan Johong of RBC Capital Markets said in a research note Thursday that it would be “feasible” for Dynegy to step up as a rival suitor for Calpine, a major provider of electricity in Texas and California.

Calpine is significantly larger than Dynegy — and is already considering a roughly $11 billion takeover offer from NRG Energy....MORE

Our previous posts on Dynegy:

Sizing Up the Utilities, if Carbon Caps Take Hold (DYN; ETR; EXC; FPL; NRG; PGC)

They've Got Juice- Dynegy (DYN)

Blackout: Enron and the California Power Crisis (Transcript)

Dynegy: Carbon Risk Accompanies LS Power Merger