Dynegy October 6 urged its shareholders to vote for a takeover of the company by The Blackstone Group at an upcoming special shareholders meeting set for November 17. If they approve Blackstone’s $4.50/share offer, the new owner almost immediately will sell Dynegy’s California power plants to NRG Energy--including the Moss Landing facility. The transfer stands to make NRG California’s biggest generator (Current, Aug. 20, 2010). If shareholders decline the private equity firm’s offer, Dynegy management warned that the price of the company’s stock could sink below its $2.78 value at the time it struck the buyout deal with Blackstone. Without the takeover, Dynegy’s outlook is dim, its management told shareholders, due to the recession dampening sales prospects and the company facing a need to refinance debt. Management also cited uncertainties regarding environmental regulatory costs, including potential global warming measures and the need to deal with once-through cooling rules.