BlackRock consortium to buy utility AES in $33.4 billion deal, shares plunge

Shares of power utility AES Corp AES.N down 17.2% at $14.31, their lowest in more than a month

Stock on track for biggest one-day percentage decline since March 2020 if losses hold

Consortium led by BlackRock-owned BLK.N Global Infrastructure Partners and equity firm EQT AB EQTAB.ST agree to acquire AES in $33.4 billion deal, including debt

The consortium will acquire AES for $15 per share in cash, representing total equity value of $10.7 billion

Transaction expected to close in late 2026 or early 2027

AES down marginally YTD