BlackRock and EQT to Take AES Corporation Private in $33.4B Clean Energy Deal
A consortium led by BlackRock's Global Infrastructure Partners and EQT Infrastructure agreed on 2 March 2026 to acquire power company AES Corporation for $15 per share in cash — an enterprise value of $33.4 billion — in one of the largest utility take-privates in history. Co-investors include CalPERS and the Qatar Investment Authority. The deal shields AES from volatile public markets during a capital-intensive build-out of clean energy and data centre power infrastructure. Close is expected in late 2026 or early 2027.
Devon Energy Completes All-Stock Merger with Coterra Energy, Creating $58B Shale Giant
Devon Energy and Coterra Energy completed their all-stock merger on 7 May 2026 — shareholders approved the combination on 4 May with over 98% of votes in favour. Each Coterra share converted into 0.70 Devon shares; Devon holders retain approximately 54% of the enlarged group. The combined company — trading as DVN on the NYSE — targets $1 billion in annual pre-tax synergies by 2027, anchored by a leading position across five of the six largest US unconventional oil plays.