Reports of a potential acquisition helped shares of a utility company power higher, while an agricultural sciences firm faced pressure after it announced a plan to separate into two independent entities.
AES (AES) shares jumped 16% Wednesday afternoon following a report the renewable energy provider is in talks to be acquired by BlackRock's (BLK) Global Infrastructure Partners (GIP).
The AES Corporation (AES 15.65%) stock surged Wednesday morning on reports a unit of private equity powerhouse BlackRock (BLK -1.92%) intends to acquire the electricity utility -- and pay $38 billion for the privilege.
Shares in U.S. utility AES Corp. surged more than 12% in premarket trading Wednesday after reports that BlackRock-owned Global Infrastructure Partners (GIP) is preparing a takeover bid worth about $38 billion. If completed, the transaction would rank among the largest infrastructure acquisitions in history.
AES Corporation remains a strong buy, with over 100% upside potential with my fair value estimate of $26 per share. AES's growth is driven by a robust renewables pipeline, strong data center demand, and proactive risk management in US policy and supply chain. AES maintains a comfortable financial position despite high debt, with most debt non-recourse and significant cash reserves.
Highlighting 10 S&P-rated companies with 4-7% yields, focusing on dividend growth, credit quality, and undervaluation. Pfizer, Alexandria RE, NNN REIT, AES Corp, and Bristol Myers are identified as undervalued winners and recommended as buys for income-focused investors.
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