Johnson Fistel Investigates Potential Board Fiduciary Duty Breaches in The AES Corporation Merger Transaction
San Diego – March 2, 2026 – Shareholder rights law firm Johnson Fistel, PLLP has launched an investigation into whether the board members of The AES Corporation (NYSE: AES) breached their fiduciary duties in connection with the proposed sale of the company to a consortium led by Global Infrastructure Partners (a part of BlackRock) and the EQT Infrastructure VI fund.
If you own AES shares and believe this proposed transaction undervalues your investment, please consider joining our investigation.
Shareholders seeking more information may also contact lead analyst Jim Baker (jimb@johnsonfistel.com, 619-814-4471). If emailing, please include a phone number.
Background
On March 2, 2026, AES announced that it had entered into a definitive agreement pursuant to which the Company will be acquired by a consortium led by Global Infrastructure Partners (a part of BlackRock) and EQT, together with other institutional investors, in an all-cash merger transaction.
Under the terms of the agreement, AES shareholders will receive $15.00 per share in cash for each share of AES common stock they own.
The transaction reportedly values AES at approximately $10.7 billion in equity value and approximately $33.4 billion including debt. According to the announcement, the transaction is expected to close subject to customary closing conditions, including regulatory approvals and approval by AES stockholders.
If consummated, the transaction would result in AES common stock being delisted from the New York Stock Exchange and deregistered under the Securities Exchange Act of 1934.
Johnson Fistel’s investigation focuses on whether the Company’s board of directors conducted a fair process to maximize shareholder value, whether conflicts of interest may have affected the board’s decision-making process, and whether shareholders are receiving fair consideration for their shares. The investigation will also examine the adequacy of the merger consideration in light of AES’s long-term growth prospects and recent trading levels.