<p>Because of difficulties in turning the proxy voting machinery on a dime in considering an offer from Blackstone Group, the attorneys of Dynegy, Inc. hit on the unusual strategy of declaring a recess in the meeting to rather than postponing or adjourning the meeting.</p>
<p>The meeting will reconvene Nov. 23rd. Dynegy&rsquo;s postponement of the meeting by seven days was intended to 
let shareholders and the proxy advisory services reassess a higher offer from Blackstone. Dynegy needed a way to give proxy voters who opposed 
Blackstone&rsquo;s bid of  $4.50 a share time to consider the firm&rsquo;s  offer of
 $5 a share, which came the night before the meeting.The board of Dynegy has accepted Blackstone's $5-per-share buyout for the company, and has told shareholders who have already voted against the merger that they can amend their votes.</p>
<p>The previous bid was $4.50 per share.</p>
<p>Dynegy owns and operates eight power generation facilities in Illinois, including those in Alton and Stallings in Metro East, and a plant in Baldwin which is completing a $500 million flue gas desulfurization project. Dynegy has a corporate office in O'Fallon, IL.</p>
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