fw : dynegy issues statement on enron merger status fyi
- - - - - original message - - - - -
from : jon cartwright [ mailto : jcartwright @ fi . rjf . com ]
sent : wednesday , november 21 , 2001 12 : 51 pm
to : energy - gram ( e - mail )
subject : dynegy issues statement on enron merger status
for immediate release
dynegy issues statement on enron merger status
houston ( nov . 21 , 2001 ) - - dynegy inc . ( nyse : dyn ) chairman and ceo chuck watson today said he is encouraged by enron corp . ' s report this morning that it has closed the remaining $ 450 million credit facility secured by the assets of northern natural gas pipeline and has received a commitment from its lead bank to extend the $ 690 million note payable obligation described in enron ' s recent 10 - q filing .
" we are continuing our confirmatory due diligence and working to accelerate the regulatory approvals required to complete the merger in accordance with the previously announced agreement , " he said .
watson also noted that chevrontexaco recently reiterated that it has " full confidence in dynegy ' s disciplined management approach to complete the merger and to build a new company into an industry leader . " chevrontexaco owns 26 percent of dynegy ' s outstanding common stock .
dynegy inc . is one of the world ' s top energy merchants . through its global energy delivery network and marketing , trading and risk management capabilities , dynegy provides innovative solutions to customers in north america , the united kingdom and continental europe .
certain statements included in this news release are intended as " forward - looking statements " under the private securities litigation reform act of 1995 . these statements include assumptions , expectations , predictions , intentions or beliefs about future events . dynegy cautions that actual future results may vary materially from those expressed or implied in any forward - looking statements . some of the key factors that could cause actual results to vary from those dynegy expects include changes in commodity prices for energy or communications products or services ; the timing and extent of deregulation of energy markets in the u . s . and europe ; the timing of required approvals for the dynegy / enron merger and the success of integration and cost savings measures relating to the merger ; the effectiveness of dynegy ' s risk management policies and procedures and the creditworthiness of customers and counterparties ; the liquidity and competitiveness of wholesale trading markets for energy commodities , including the impact of electronic or online trading in these markets ; operational factors affecting dynegy ' s power generation or dynegy ' s midstream natural gas facilities ; uncertainties regarding the development of , and competition within , the market for communications services in the u . s . and europe ; uncertainties regarding environmental regulations or litigation and other legal or regulatory developments affecting dynegy ' s business ; general political , economic and financial market conditions ; and any extended period of war or conflict involving the united states or europe . moreover , dynegy ' s expectation that the acquisition will be accretive to earnings in 2002 and beyond is based upon achieving certain sales projections , meeting certain cost targets and successfully integrating the acquired assets . more information about the risks and uncertainties relating to these forward - looking statements are found in dynegy ' s sec filings , which are available free of charge on the sec ' s web site at > .
fw : dynegy issues statement on enron merger status
fyi
- - - - - original message - - - - -
from : jon cartwright [ mailto : jcartwright @ fi . rjf . com ]
sent : wednesday , november 21 , 2001 12 : 51 pm
to : energy - gram ( e - mail )
subject : dynegy issues statement on enron merger status
for immediate release
dynegy issues statement on enron merger status
houston ( nov . 21 , 2001 ) - - dynegy inc . ( nyse : dyn ) chairman and ceo chuck watson today said he is encouraged by enron corp . ' s report this morning that it has closed the remaining $ 450 million credit facility secured by the assets of northern natural gas pipeline and has received a commitment from its lead bank to extend the $ 690 million note payable obligation described in enron ' s recent 10 - q filing .
" we are continuing our confirmatory due diligence and working to accelerate the regulatory approvals required to complete the merger in accordance with the previously announced agreement , " he said .
watson also noted that chevrontexaco recently reiterated that it has " full confidence in dynegy ' s disciplined management approach to complete the merger and to build a new company into an industry leader . " chevrontexaco owns 26 percent of dynegy ' s outstanding common stock .
dynegy inc . is one of the world ' s top energy merchants . through its global energy delivery network and marketing , trading and risk management capabilities , dynegy provides innovative solutions to customers in north america , the united kingdom and continental europe .
certain statements included in this news release are intended as " forward - looking statements " under the private securities litigation reform act of 1995 . these statements include assumptions , expectations , predictions , intentions or beliefs about future events . dynegy cautions that actual future results may vary materially from those expressed or implied in any forward - looking statements . some of the key factors that could cause actual results to vary from those dynegy expects include changes in commodity prices for energy or communications products or services ; the timing and extent of deregulation of energy markets in the u . s . and europe ; the timing of required approvals for the dynegy / enron merger and the success of integration and cost savings measures relating to the merger ; the effectiveness of dynegy ' s risk management policies and procedures and the creditworthiness of customers and counterparties ; the liquidity and competitiveness of wholesale trading markets for energy commodities , including the impact of electronic or online trading in these markets ; operational factors affecting dynegy ' s power generation or dynegy ' s midstream natural gas facilities ; uncertainties regarding the development of , and competition within , the market for communications services in the u . s . and europe ; uncertainties regarding environmental regulations or litigation and other legal or regulatory developments affecting dynegy ' s business ; general political , economic and financial market conditions ; and any extended period of war or conflict involving the united states or europe . moreover , dynegy ' s expectation that the acquisition will be accretive to earnings in 2002 and beyond is based upon achieving certain sales projections , meeting certain cost targets and successfully integrating the acquired assets . more information about the risks and uncertainties relating to these forward - looking statements are found in dynegy ' s sec filings , which are available free of charge on the sec ' s web site at > .