MergerMay 5, 2026, 04:13 PM
AES to be Acquired for $15.00 Per Share in Cash
AI Summary
AES Corporation announced a definitive merger agreement on March 1, 2026, under which it will be acquired by Horizon Parent, L.P. for $15.00 per share in cash. The transaction, unanimously approved by AES's Board, is subject to stockholder and regulatory approvals. Concurrently, AES reported strong first-quarter 2026 financial results, with net income attributable to the company significantly increasing to $487 million and total revenue rising to $3,180 million.
Key Highlights
- AES entered a merger agreement on March 1, 2026, to be acquired by Horizon Parent, L.P.
- Each share of AES common stock will be converted into the right to receive $15.00 in cash.
- Net income attributable to AES Corporation was $487 million for Q1 2026, up from $46 million in Q1 2025.
- Basic earnings per share were $0.68 for Q1 2026, compared to $0.07 in Q1 2025.
- Total revenue for Q1 2026 increased to $3,180 million from $2,926 million in Q1 2025.
- Net cash provided by operating activities was $1,201 million in Q1 2026, up from $545 million in Q1 2025.
- Total assets stood at $52,819 million as of March 31, 2026, an increase from $51,768 million.
- Executed a $190 million agreement to transfer Investment Tax Credits (ITCs) to a third party in Q1 2026.