Shares of AES Corp. rose 5% on Friday after a report said Global Infrastructure Partners (GIP) and EQT are in advanced talks to acquire the power company. The report cited people familiar with the matter and said the transaction could be announced as soon as next week.
Those familiar with the discussions emphasized that no final agreement has been reached. Key terms - including valuation and the timing of any announcement - remain subject to change, according to the report. Market participants reacted to the prospect of a deal, pushing AES stock higher on the day.
Over the past 12 months AES shares have advanced by more than 55%, giving the company an estimated market value of roughly $11.6 billion. The report also noted that Global Infrastructure Partners is owned by BlackRock Inc.
Separately, the company moved its full-year earnings announcement to March 3. Attempts to obtain comments from the companies involved were unsuccessful; representatives either declined to comment or did not immediately respond to requests for comment, according to the report.
Context and market reaction
The immediate market move reflects investor attention on potential takeovers and the prospect of a change in ownership for a significant power company. AES's sizable single-year gain and its current market capitalization were highlighted in the report as background to the takeover discussions.
What remains uncertain
- No final deal has been signed, and terms could still evolve.
- Valuation and the timing of any announcement are not finalized.
- Company spokespeople either declined to comment or did not respond to inquiries.
As reported, the earliest public confirmation of any agreement could come as soon as next week, but the situation remains fluid until an agreement is reached and formally announced.