TonyM
05-21-2007, 06:00 PM
DJ Chevron To Sell All 96.9M Class A Dynegy Shrs In Offering
DOW JONES NEWSWIRES
Dynegy Inc. (DYN) late Monday said Chevron USA Inc., a subsidiary of Chevron Corp. (CVX), plans to sell all of its 96.9 million shares of Dynegy's Class A common stock in an underwritten public offering.
The transaction isn't dilutive to Dynegy's stockholders because the shares being sold are already outstanding, the Houston-based energy company said.
Dynegy said it won't receive any of the proceeds from the offering, which is expected to close no later than May 25.
Goldman Sachs & Co. is expected to act as the underwriter for the offering, the company noted.
-Katherine Hunt; 415-439-6400; AskNewswires@dowjones.com
DOW JONES NEWSWIRES
Dynegy Inc. (DYN) late Monday said Chevron USA Inc., a subsidiary of Chevron Corp. (CVX), plans to sell all of its 96.9 million shares of Dynegy's Class A common stock in an underwritten public offering.
The transaction isn't dilutive to Dynegy's stockholders because the shares being sold are already outstanding, the Houston-based energy company said.
Dynegy said it won't receive any of the proceeds from the offering, which is expected to close no later than May 25.
Goldman Sachs & Co. is expected to act as the underwriter for the offering, the company noted.
-Katherine Hunt; 415-439-6400; AskNewswires@dowjones.com