AES will be acquired in an all-cash transaction at $15.00 per share, representing an equity value of $10.7 billion and an enterprise value of $33.4 billion including net debt. The offer price reflects a 17% discount to the prior closing price of $17.28 and a 40.3% premium to its 30-day volume-weighted average before the initial takeover reports.

AES’s board of directors has approved the transaction and expects shareholder and regulatory approvals to be secured before closing. The deal is slated to finalize in late 2026 or early 2027, subject to customary closing conditions and antitrust clearances.

The consortium led by Global Infrastructure Partners and EQT Corporation views the takeover as a means to bolster AES’s capital structure and fund growth across its U.S. regulated utilities, competitive clean energy platforms, and Latin American infrastructure. Without the deal, AES would likely need to cut its dividend or raise substantial new equity to finance future investments.

Following the announcement, AES shares plunged 17% in premarket trading to align with the $15 offer, pushing the stock closer to its 52-week low. AES also canceled its Q4 2025 earnings call, and technical indicators showed increased bearish pressure as investors reassessed the company’s near-term outlook.