AES Corporation (NYSE:AES) shares are trading higher Wednesday after reports indicating BlackRock’s Global Infrastructure Partners is nearing an acquisition of the company.
What To Know: Global Infrastructure Partners, owned by BlackRock, is close to finalizing a $38 billion deal, including debt, to acquire AES.
Talks between GIP and AES are said to be well advanced, though a final agreement has not been confirmed.
Analysts have pointed to rising demand for power from artificial intelligence and data center growth as a driver of recent utility-sector dealmaking.
AES has also drawn investor attention after exceeding Wall Street's second-quarter profit expectations in July and showing growth in its renewable energy division. Shares previously jumped nearly 13% on July 8 following reports the company was weighing strategic options, including a sale.
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AES Price Action: At the time of writing, AES shares are trading 15.56% higher at $15.21, according to data from Benzinga Pro.
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