Blackstone Comments on the Termination of Dynegy Merger Agreement

In anticipation of their proposal not receiving the necessary votes to be adopted, an affiliate of The Blackstone Group BX and Dynegy Inc. DYN expect to announce the termination of their merger agreement following today's shareholder meeting. Blackstone issued the following statement: David Foley, Senior Managing Director of The Blackstone Group, commenting on the termination, said: "While we are disappointed by Seneca Capital's and Carl Icahn's opposition to our "best and final" proposal of $5.00 per share, we appreciate the efforts made by Dynegy to communicate the merits of our offer, and we extend best wishes to Dynegy as it continues to pursue its exploration of strategic alternatives." Blackstone had originally offered to acquire Dynegy at $4.50 per share, which it subsequently increased to a "best and final" offer of $5.00 per share.