BlackRock-EQT consortium to buy AES for $10.7bn, shares drop

(Sharecast News) - Shares in AES plunged on Wall Street on Monday after the clean energy firm agreed to be acquired by a consortium led by BlackRock's Global Infrastructure Partners and EQT for $10.7bn. The deal, which values AES at $15 per share, represents a 40.3% premium to the company's 30-day average prior to 8 July 2025 when acquisition rumours first started.

However, it comes at a major discount to the $17.28 closing price for the stock on Friday following a strong jump in the shares since last summer.

News of the deal led to a 17.3% drop in the stock on Monday morning to $14.29 by 1639 GMT.

According to the consortium, AES will have "increased financial flexibility as a private company".

The price tag includes the assumption of around $22.7bn of AES's debt, giving AES an enterprise value of $33.4bn.

"Acquisition to address AES' significant need for capital to support its growth beyond 2027; absent this transaction, funding for future growth investments would likely require a reduction or elimination of the dividend and/or significant new equity issuances," a statement by GIP said.

Jay Morse, AES chairman, said the board determined that the consortium's offer "maximises value for stockholders and provides compelling cash value".

He added: "We ran a robust process that included several parties and evaluated the transaction with the Company's standalone prospects in mind. AES has a significant need for capital to support growth beyond 2027, particularly given the significant new investments in both US generation and utilities businesses."