Dynegy Inc files for bankruptcy; will merge with unit
(Reuters) ? Power producer Dynegy Inc , the parent company of Dynegy Holdings, filed for bankruptcy protection on Friday morning as part of its settlement agreement with creditors and said it will merge with its unit. Last month, a bankruptcy court approved the company?s settlement with creditors under which Dynegy and Dynegy Holdings would be combined, with creditors holding a 99 percent equity stake in the combined company. The settlement resolved a dispute among creditors over whether Dynegy had acted properly last September in taking $1. ?
Source: http://kashwealthsystem.com/finance/2012/07/06/dynegy-inc-files-for-bankruptcy-will-merge-with-unit/
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