SAN DIEGO, Oct. 30, 2017 /PRNewswire/ -- Shareholder rights
law firm Johnson Fistel, LLP has launched an investigation into
whether the board members of Dynegy Inc. ("Dynegy") (NYSE: DYN)
breached their fiduciary duties in connection with the proposed
sale of the Company to Vistra Energy ("Vistra") (NYSE: VST).
Dynegy, produces and sells electric energy, capacity, and ancillary
services in the United States.
On October 30, 2017, Dynegy
announced that it had signed a definitive merger agreement with
Vistra. Under the terms of the agreement, Dynegy shareholders will
receive 0.652 shares of Vistra Energy common stock for each share
of Dynegy common stock they own. Based on Vistra's closing share
price of $20.30 on October 27, 2017, Dynegy shareholders would
receive $13.24 per Dynegy share.
However, shareholders will be subject to the future price
fluctuation of Vistra's stock price.
The investigation concerns whether the Dynegy board failed to
satisfy its duties to the Company shareholders, including whether
the board adequately pursued alternatives to the acquisition and
whether the board obtained the best price possible for Dynegy
shares of common stock. Nationally recognized Johnson Fistel is investigating whether the
proposed deal represents adequate consideration, especially given
one Wall Street analyst has an $18.00
price target on the stock.
If you are a shareholder of Dynegy and believe the proposed
buyout price is too low or you're interested in learning more about
the investigation or your legal rights and remedies, please contact
lead analyst Jim Baker
(jimb@johnsonfistel.com) at 619-814-4471. If emailing,
please include a phone number.
About Johnson Fistel,
LLP:
Johnson Fistel, LLP is a nationally
recognized shareholder rights law firm with offices in California, New
York and Georgia. The firm
represents individual and institutional investors in shareholder
derivative and securities class action lawsuits. For more
information about the firm and its attorneys, please visit
http://www.johnsonfistel.com. Attorney advertising. Past results do
not guarantee future outcomes.
Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
jimb@johnsonfistel.com
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SOURCE Johnson Fistel, LLP
