AES Corporation 8-K

Summary

AES merger approval and transaction update. Stockholders approved the acquisition by a consortium led by Global Infrastructure Partners and EQT. The HSR waiting period expired on 6/22/2026; closing still requires other regulatory approvals and customary conditions and is expected in late 2026 or early 2027.

Key Figures

• Merger vote: 479.1M shares for (97.8% of shares represented), 10.1M against and 0.5M abstained; the merger-related compensation proposal also passed on a nonbinding advisory basis.
• Consideration: $15.00 per share in cash; ≈$10.7B equity value and ≈$33.4B enterprise value, including assumed existing debt. Enterprise value uses $22.7B of proportional net debt and 712M shares as of 12/31/2025; consolidated net debt was $27.6B on that date.

Investor Takeaways

• Watch for the remaining federal, state and foreign regulatory approvals and whether the merger closes in the expected late-2026 or early-2027 window.