Ohio regulators approve AES merger with Horizon Parent
The state's sign off is a condition to closing, which still needs other regulatory approvals and customary conditions
Published
Chart: AES, one-minute prices, three sessions
The Public Utilities Commission of Ohio has approved AES's pending merger with Horizon Parent, L.P. and Horizon Merger Sub, Inc., under the agreement dated March 1, 2026.
The approval satisfies one condition to closing. The deal still needs additional regulatory approvals and other customary closing conditions before it can be completed.
Once the merger closes, AES will be jointly owned by investment vehicles affiliated with Global Infrastructure Management and the EQT Infrastructure VI fund, along with other investors.
Ohio's clearance removes one of the remaining hurdles between the deal's June approval by AES stockholders and completion of the $15.00 a share cash acquisition, worth roughly $10.7 billion in equity and about $33.4 billion including debt. With the price fixed, each state approval mechanically narrows the gap between AES's trading price and that $15.00 figure, a modestly bullish signal for holders still in the stock. The remaining approvals still needed mean the spread between the market price and the deal price is unlikely to close completely for now.