Blackstone Group LP has agreed to acquire power generator Dynegy Inc. for $4.7 billion, including debt assumption, with NRG Energy Inc. then paying Blackstone $1.36 billion for nearly one-third of Dynegy’s generation capacity.
As part of the agreement, Dynegy has 40 days to shop itself to other potential buyers.
The Blackstone deal values Dynegy’s equity at nearly $550 million, or $4.50 a share, a 62% premium to Thursday’s closing price. Its stock was at $4.48 premarket.
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