Dynegy Inc fka DYN

[EPK]

TENDER OFFER: On December 15, 2010, the Company entered into an Agreement and Plan of Merger with affiliates of IEP. On December 22, 2010, affiliates of IEP commenced a tender offer to purchase all of the outstanding shares of Dynegy common stock for $5.50 per share in cash, or approximately $665 million. The IEP tender offer is currently set to expire at 5 p.m., New York City time, on February 14, 2011.

The Dynegy Board, in consultation with its independent financial and legal advisors and based upon the recommendation of the Special Committee comprised solely of non-management independent directors, has unanimously determined that the tender offer is in the best interests of all Dynegy stockholders. The Dynegy Board recommends that Dynegy stockholders accept the tender offer and tender their Dynegy shares into the tender offer.