Blackstone Group

Last week, power-plant operator Dynegy agreed to be acquired by top shareholder Icahn Enterprises for about $665 million. But Dynegy's second-largest shareholder, hedge fund Seneca Capital, rejected the bid, calling it "the wrong price at the wrong time for the wrong reasons."

Power plant operator Dynegy has agreed to be acquired by Icahn Enterprises for $5.50 per share in cash, or about $665 million. Dynegy has about $3.95 billion of outstanding debt, net of cash. The agreement follows a recent failed bid from private equity giant The Blackstone Group.

Shares of energy company Dynergy fell after its shareholders rejected a $603 million takeover bid from an affiliate of The Blackstone Group, a private-equity firm. Will investors Carl Icahn or Seneca Capital bid for the Houston company?

Dynegy has agreed to be acquired by an affiliate of Steven Schwarzman's (pictured) Blackstone Group in a transaction valued at approximately $4.7 billion, including the assumption of existing debt. Blackstone will pay $4.50 per share in cash.

The recent stock market correction has been brutal for The Blackstone Group. Since mid-April, the firm's shares have gone from $15.25 to $10.58. On Thursday, though, Blackstone reported $205 million in profits for the second quarter, and shares were up around 4% late in the day.

The real estate portfolio is worth around $2 billion, excluding debt. Blackstone will help unwind the portfolio and will not acquire any assets from it.

As private-equity giant KKR moves at last toward completing its own IPO, it is opening up its internal finances to the SEC. One of the more interesting items: How little its two billionaire founders, cousins Henry Kravis and George Roberts, earned from the business last year.

A new suitor may be entering the bidding war for Healthscope, the second-largest private hospital chain in Australia: Tenet Healthcare. But the market's response to word of the negotiations has been decidedly negative.

Buyout talks between a consortium of investors -- led by The Blackstone Group -- and Fidelity National Information Services collapsed Monday night.

Watch out Goldman Sachs! Investment banking's smaller fries are getting a bigger share of the lucrative mergers and acquisitions advisory business. Case in point: Blackstone Group's ranking has moved up to 11th this year from 86th in 2009 while Lazard has moved to sixth position.