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Bond Market News
GIP and EQT In Talks to Acquire AES
March 2, 2026
BlackRock’s Global Infrastructure Partners (GIP) and EQT are in advanced negotiations to acquire US power producer AES, according to sources. They added that the deal could be announced as early as next week, though valuation and timing remain uncertain and no final agreement has been reached. Investors see utilities like AES as beneficiaries of rising electricity demand driven by AI data centers. However, despite supplying renewable power to major tech companies such as Google, Microsoft and Amazon, its management has argued that public markets are undervaluing the company. Analysts say that a takeover could address the company’s discounted valuation, weaker balance sheet and international exposure. AES previously explored strategic options after takeover interest last year. AES shares were up 6.34% on Friday, resulting in a market valuation of $12.3bn.
AES’s dollar bonds traded stable. For instance, it’s 5.45% 2028s was at 102.3, yielding 4.34%.
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