In a merger completed February 1, 2000, Illinova Corp. ( formerly ) became a wholly owned subsidiary of Dynegy Inc., in which Chevron also took a 28 % stake.

The deal also allowed Nova and British Gas to sell their stake in Dynegy.

Dynegy also began branching into areas outside natural gas and electrical generation.

LS Power also agreed to return all its Class B shares, so that Dynegy would only have 95 million shares of common stock outstanding.

Dynegy investor Carl Icahn also promised a proxy battle, arguing that Blackstone Group's offer was too low.

Legal counsel also believed that Dynegy management would be forced refile resolution with shareholders and resolicit votes, which would delay a meeting until early 2011.

Nearly all the debt was held by its subsidiary, Dynegy Holdings, which also guaranteed debt for the operating divisions.

The bankrutpcy plan filed by Dynegy Inc. also called for a merger with Dynegy Holdings.

( The lawsuit was settled in August 2002 after Dynegy agreed to pay Enron US $ 25 million for backing out of the deal.

On September 24, Dynegy announced that it had agreed to pay a US $ 3 million fine for using the Catlin company and other business partnerships to hide losses and taxable income.

In April 2005, Dynegy agreed to settle the lawsuit.

In September 2006, Dynegy and LS Power Group agreed to a joint venture in a deal worth US $ 2. 3 billion.

In August 2009, LS Power agreed to buy nine electrical generating plants from Dynegy for US $ 1. 025 billion in cash in order to dissolve the joint venture.

After a year of negotiations and legal maneuvering, Dynegy agreed to issue statements to its current and future investors warning that government regulation of carbon emissions and lawsuits over pollution could pose financial risks to the company.

On November 23, 2010, Dynegy management and Blackstone agreed to call off the takeover after it became clear there was not enough support for the US $ 5. 00 a share bid.

In financial distress, Dynegy successfully applied for a US $ 900 million line of credit.

Desperate for cash, Dynegy sold the Northern Natural Gas Company to MidAmerican Energy Holdings for $ 928 million on July 29 ($ 572 less than it paid for it ).

ABG then sold this gas at a discount to Dynegy, which resold it at market prices and booked a $ 300 million profit.

) In December 2003, three former executives at Nicor Energy LLC ( a joint venture of Dynegy and Nicor ), were indicted for illegally manipulating that firm's income by US $ 11 million in 2001 to hide losses.

To come up with the money, Dynegy paid out $ 250 million in cash and issued $ 68 million in stock to the plaintiffs.

The company blamed, among other things, markedly lower demand for its electricity, much lower prices for its coal, and a $ 941 million noncash loss caused by the transfer of its coal unit to Dynegy Holdings.

As part of the bankruptcy filing, Dynegy Inc. has proposed merging with Dynegy Holdings into a new entity which will retain the Dynegy, Inc. name.

Six weeks later, Dynegy hired Nick J. Caruso, a former chief financial officer at Royal Dutch Shell, as its new chief financial officer.

Legal counsel advised that Delaware law ( under which Dynegy was incorporated ) considered a postponement a new meeting, and that would require notifying shareholders ( again ) and giving at least 20 days ' notice.

In 2011, U. S. Bancorp, representing bondholders whose investment was secured by leases of two Dynegy power plants new Newburgh, New York ( the Danskammer Generating Station and the Roseton Generating Station ).

But as part of its bankruptcy filing, the bankruptcy court approved a new lease in which Dynegy would abandon of space at Wells Fargo Plaza.

* NGC Corporation, which became Dynegy Inc

In 2001, Dynegy made a white knight US $ 8 billion takeover bid for Enron, which was saddled with $ 13 billion in debt and whose stock had plummeted.

The closure led Dynegy to lay off 14 percent of its workforce, which left it with just 4, 600 employees.

Dynegy executives said the offer was a good one, as the deal would give Dynegy access to lines of credit which would enable it to refinance and restructure its debt.

Finally, GasCo and CoalCo sold themselves to Dynegy Inc., which left Dynegy Holdings holding US $ 1. 25 billion in debt but without the ability to seize the assets of GasCo and CoalCo in the event of a default.

The restructuring plan put Dynegy's assets which had the worst financial performance into the hands of Dynegy Holdings.

This allowed the Dynegy Holdings board of directors to sue the Dynegy Inc. board of directors for damages ( which could run into the billions of dollars ).

The agreement, which affected US $ 2. 25 billion in debt, gave all creditors 99 percent of the stock of Dynegy Inc. once it emerged from bankruptcy.

Dynegy said it hoped to hold a vote on August 24, at which time its creditors would approve the bankruptcy plan.

Williamson resigned as CEO of Dynegy on February 10, 2011, after two takeovers over the company ( both of which he supported ) failed.

Under the terms of the agreemnent, Dynegy gave LS Power a 40 percent stake in Dynegy itself while LS Power contributed 10 of its power plants.

The dissolution of the joint venture left LS Power with a 15 percent stake in Dynegy.

" Dynegy sold its telecommunications business in Europe in January 2003, restated its income for 2001 and 2002, sold a natural gas terminal in Louisiana, sold its telecommunications business in North America in April 2003, engaged in a US $ 1. 6 billion refinancing and other restructuring of its debt, sold its Illinois Power Company subsidiary to Ameren, and nullified a number of contracts in non-core or money-losing areas.

: Lay meets with Dynegy chairman Charles Watson.

* November 9 Dynegy announces it will acquire Enron for $ 9 billion.

* November 28 Dynegy retracts its acquisition offer.

The natural gas plant, located at the intersection of State Route 1 and Dolan Road, produces 2, 538 megawatts, is wholly owned by Dynegy, and is visible from Santa Cruz, California to the north and Monterey, California to the south on clear days.

After the bankruptcy of Enron, Northern Natural Gas briefly became part of Dynegy Corp of Houston whose Chairman Daniel Dienstbier had been president of NNG before Ken Lay seized control of Internorth.

Dynegy then sold NNG to Warren Buffett's Berkshire Hathaway who moved it back to Omaha.

In 1996 NGC Corp. ( now Dynegy ) leased in the First Interstate Plaza.

The corporate headquarters of Dynegy are located in Suite 5800.

On August 13, 2010 Blackstone announced it would buy Dynegy, an energy firm, for nearly $ 5 billion.

Dynegy Inc. is an electric utility company based in Houston, Texas, in the United States.

The company adopted the name Dynegy in 1998.

Dynegy nearly went bankrupt in 2002, and several executives were eventually convicted of financial fraud and mismanagement.

Dynegy exited the energy trading business in 2002 and the natural gas supply business in 2005, focusing its efforts on electrical generation.

The company has one major subsidiary, Dynegy Holdings.

Dynegy Inc. was the object of two takeover efforts in 2010.

Its Dynegy Holdings subsidiary went bankrupt in November 2011, and Dynegy Inc. itself filed for bankruptcy protection on July 6, 2012.