Seneca Capital Advices Dynergy Shareholders to Vote Against Merger Proposal

Seneca Capital, one of the largest holders of Dynegy Inc. DYN equity with a 12% economic interest, is writing to comment on the amended merger proposal at $5.00 per share. Seneca strongly encourages shareholders to vote against the amended $5.00 per share merger proposal saying it is still the wrong price at the wrong time for the wrong reasons. Seneca has presented a detailed investment case to the marketplace supporting a valuation for Dynegy in excess of $6 per share rising to $16-$18 per share as power prices recover.