Investors seek additional details on the $15 per share deal, delaying the largest US utility sector acquisition this year.
Shareholders of AES have filed two complaints to halt the company’s $33.4bn sale to a consortium led by BlackRock’s Global Infrastructure Partners and EQT. The complaints, disclosed in an SEC filing, demand more information before the deal proceeds, though AES maintains it has met all disclosure requirements.
The acquisition, announced in March 2026, values AES at $10.7bn in equity and $33.4bn in enterprise value, including debt. Shareholders would receive $15 per share in cash, a 40.3% premium over the 30-day average price before media reports surfaced. The deal requires regulatory and stockholder approval, with closure expected in late 2026 or early 2027.
The consortium also includes the California Public Employees’ Retirement System and the Qatar Investment Authority. AES stated the sale would improve its capital access, with unanimous board approval secured.