Ademi LLP is investigating AES (NYSE: AES) for possible breaches of fiduciary duty and other violations of law in its recently announced transaction with a consortium led by Global Infrastructure Partners and EQT Infrastructure VI fund.
In the transaction, AES stockholders will receive $15.00 per share in cash, representing a total equity value of $10.7 billion and an enterprise value of approximately $33.4 billion. AES insiders will receive substantial benefits as part of change of control arrangements.
The transaction agreement unreasonably limits competing transactions for AES by imposing a significant penalty if AES accepts a competing bid. We are investigating the conduct of the AES board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.
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