AES AES Corp.

$AES A group of lawmakers including Sen. Elizabeth Warren asked federal regulators this week to reject the 33.4 billion dollar sale of AES to BlackRock's infrastructure arm and EQT, per Reuters. The Sept 28 letter to the FERC chair says the deal could push electricity bills higher and let data centers benefit at the expense of utility customers. The timing is the argument: record-high utility bills while data center demand pushes power demand to record highs. The other side: Ohio regulators unanimously approved the deal on Sept 17, with binding commitments that the acquisition premium and transaction costs will not be paid by ratepayers. Shareholders backed it by nearly 98%. The fight is about the buyer structure. BlackRock's Global Infrastructure Partners funds both utilities and data centers, so the question is who pays for the grid the AI buildout needs. FERC's public-interest ruling is the last major approval left. The deal is slated to close late this year or early 2027.

$AES cleared a key regulatory hurdle with EU Commission approval of its merger with Horizon Parent and NYPSC clearance.

$AES The European Commission cleared the GIP and EQT take-private on Friday, no competition concerns given the limited overlap. That is on top of CFIUS in August, Ohio regulators in September, and shareholders at about 98 percent back in June. Stock still closed Friday at 14.95 against the 15 dollars a share cash offer. Five cents of spread left, with the FERC public-interest ruling still outstanding and a close guided for late 2026 or early 2027.

$AES interesting tidbit, 3 out of 5 commissioners at FERC were appointed by Biden. FERC blocking the buyout is within the realm of possibility.

$AES could clear Chile on Thursday. A US infrastructure deal gated on a South American regulator that publishes no countdown. That date doesn't exist anywhere until someone sits down and works it out.