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This Utility Stock Is Soaring on a Takeover Report. Why It Could Be an AI Play
['Wed', 'October', 'At Pm Gmt', 'Min Read']
Yahoo Finance
The Financial Times said the deal could be worth $38 billion, making it one of the largest infrastructure takeovers in history.
AES (AES) shares jumped nearly 17% Wednesday following a report the renewable energy provider is in talks to be acquired by BlackRock’s (BLK) Global Infrastructure Partners (GIP).
The Financial Times said the purchase could be worth $38 billion, which would make it one of the largest infrastructure takeovers ever, and could be announced within days.
Why This Is SignificantThe deal would underscore how some renewable energy providers have seen growing interest in recent months as investors bet on demand for power to support AI and cryptocurrency mining.
Before that closed last October, GIP struck a $6.2 billion partnership deal to take Minnesota-based energy company Allete private.