Trinidad Drilling Ltd., the builder of Western Canada’s biggest energy drilling rig, is forecast to rally another 21 percent as producers spend C$55 billion ($52 billion) on developing natural gas to ship to Asia.
Dynegy Inc. shareholders should reject the proposed $540 million takeover by Blackstone Group LP in favor of alternatives such as refinancing or buying back debt to lower costs, proxy research company Glass Lewis & Co. LLC said.
Seneca Capital , the second-largest shareholder in Dynegy Inc ., opposes billionaire investor Carl Icahn ’s $665 million bid to buy the U.S. power producer, saying the company may be worth more than three times that amount.
Dynegy Inc ., the U.S. power producer with a shareholder vote scheduled Nov. 17 on a $540 million takeover by Blackstone Group LP , rose after a Pritchard Capital Partners analyst said the private equity firm may increase its $4.50-a-share offer to win approval.
Dynegy Inc. , the third-largest U.S. independent power producer, agreed with Blackstone Group LP to scrap a $604.5 million takeover because of shareholder opposition. Dynegy will seek new bids and may sell assets, cut costs and restructure debt to continue as a standalone company.
Dynegy Inc. shareholders will vote tomorrow on whether to accept a $4.50-a-share buyout offer from Blackstone Group LP or bet that the Houston-based power producer can rebound after its sixth quarterly loss in two years.
Dynegy Inc. , the U.S. power producer that lost 90 percent of its market value in two years, led declines in its industry in New York trading as tumbling natural-gas futures signaled low electricity prices.