Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
So what: Blackstone increased its offer to $5 per share on what it calls a "best and final offer," but some traders got a little overzealous bidding shares up to $5.75 for a moment. Dynegy shareholders were scheduled to vote on the original $4.50 per share offer tomorrow.
Now what: Carl Icahn and Seneca Capital, two major shareholders, have said the price for the company is far too low, but this bump should at least help the vote. Dynegy's shares had floundered this year until the Blackstone offer in August, but it's too early to tell if powerful opposition will give in and allow the deal to go through. If this is the final offer, it doesn't leave much upside with the stock trading right at $5 (as I am writing).
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Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw.
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