Exhibit 99.1
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FOR
IMMEDIATE RELEASE
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NR10-22
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DYNEGY INC. FILES INVESTOR
PRESENTATION TO BE USED IN MEETINGS WITH PROXY ADVISORY
FIRMS
Reiterates Recommendation of
Dynegy Board that Stockholders of Dynegy Vote FOR the Merger
Agreement with Blackstone by Voting the WHITE Proxy Card
Today
HOUSTON
– October 27, 2010 – Dynegy Inc. (NYSE: DYN) today announced
that it is filing with the Securities and Exchange Commission
(“SEC”) an investor presentation to be used in meetings
it will have with certain proxy advisory firms. This presentation
highlights a number of important facts pertaining to the previously
announced merger agreement with an affiliate of The Blackstone
Group L.P. under which the affiliate of Blackstone would acquire
all of the outstanding shares of Dynegy common stock for $4.50 per
share in cash.
The investor presentation and other
communications materials related to the Blackstone transaction are
available in the “Investor Relations” section of
Dynegy’s website at www.dynegy.com and at the SEC’s
website, www.sec.gov.
Dynegy’s Special Meeting of Stockholders
is scheduled for November 17, 2010. Dynegy stockholders
of record as of the close of business on October 1, 2010 are
entitled to notice of, and to vote at, the Special
Meeting. Dynegy’s Board of Directors recommends
stockholders vote FOR the proposal to adopt the
merger agreement today – by telephone, by Internet or by
signing, dating and returning the Company’s
WHITE proxy card. A failure to vote will
have the same effect as a vote AGAINST the proposal to adopt the
merger agreement.
Stockholders who have any questions or need
assistance voting their shares should contact MacKenzie Partners,
Inc., Dynegy’s proxy solicitor, by calling toll-free at (800)
322-2885 or (212) 929-5500 (call collect) or by e-mailing
dynegy@mackenziepartners.com.
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If you have any questions,
require assistance in voting your shares, or need
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additional copies of
Dynegy’s proxy materials, please call MacKenzie Partners at
the phone numbers listed below.
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105 Madison Avenue
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New York, NY 10016
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dynegy@mackenziepartners.com
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(212) 929-5500 (call
collect)
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Or
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TOLL-FREE (800)
322-2885
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About Dynegy
Inc.
Through its subsidiaries, Dynegy Inc. produces
and sells electric energy capacity and ancillary services in key
U.S. markets. The power generation portfolio consists of
approximately 12,200 megawatts of baseload, intermediate and
peaking power plants fueled by a mix of natural gas, coal and fuel
oil. For more information, please visit www.dynegy.com.
Cautionary
Statement Regarding Forward-Looking Statements
This release
contains statements reflecting assumptions, expectations,
projections, intentions or beliefs about future events that are
intended as "forward-looking statements". All statements included
or incorporated by reference in this release, other than statements
of historical fact, that address activities, events or developments
that we or our management expect, believe or anticipate will or may
occur in the future are forward-looking statements. These
statements represent our reasonable judgment on the future based on
various factors and using numerous assumptions and are subject to
known and unknown risks, uncertainties and other factors that could
cause our actual results and financial position to differ
materially from those contemplated by the statements. You can
identify these statements by the fact that they do not relate
strictly to historical or current facts. They use words such as
"anticipate", "estimate", "project
