In case of Dynegy Inc. (PINK:DYNIQ), Carl's attempts to thwart The Blackstone Group L.P. (NYSE:BX)'s takeover bid in 2010 worked for the shareholders to a certain extent. The initial offer of The Blackstone Group L.P. (NYSE:BX) at US $ 4.5 per share was ultimately raised to US $ 5. Then Carl himself tried winning over the shareholders with a US $ 5.50 bid which ultimately fell due to lack of support from the shareholders.