Recent Updates — AES
The AES Corporation dismissed Ernst & Young LLP as its independent registered public accounting firm due to a loss of independence following an announced merger agreement with Horizon Parent, L.P. and Horizon Merger Sub, Inc. The company engaged KPMG LLP as its new independent registered public accounting firm for the fiscal year ending December 31, 2026, effective upon the filing of the Company's Quarterly Report on Form 10-Q for the quarter ended June 30, 2026. AES Corporation is a global energy and utility provider.
AES Corporation stockholders approved the Merger Agreement dated March 1, 2026, with Horizon Parent, L.P. and its subsidiary Horizon Merger Sub, Inc. in a special meeting held on June 26, 2026. The merger is subject to regulatory approvals and other conditions, though the HSR Act waiting period expired on June 22, 2026. AES Corporation is a global energy and utility company.
The AES Corporation completed a $1 billion aggregate principal amount offering of senior notes on June 16, 2026. The offering consisted of $600,000,000 in 5.200% Senior Notes due 2029 and $400,000,000 in 5.750% Senior Notes due 2033. The 2029 notes were priced at 99.946% of the principal amount, while the 2033 notes were priced at 99.740%. Net proceeds are intended for debt repayment and general corporate purposes. AES is an energy company providing electricity and related services.
The AES Corporation is voluntarily supplementing its Definitive Proxy Statement regarding a proposed merger with Horizon Parent, L.P. The supplement provides additional disclosures on legal counsel fees, financial advisor Wells Fargo's role, and updated valuation analyses from J.P. Morgan and Wells Fargo, including an implied per share equity value range of $15.00 for the merger consideration. The company is also addressing two stockholder complaints and fifteen demand letters alleging disclosure deficiencies. AES operates in the energy sector, providing global power generation and distribution services.
AES Corporation is undergoing leadership transitions, including the movement of Chief Accounting Officer Sherry Kohan to CFO of the U.S. Utilities business and Bernerd Da Santos from President of US & Renewables to a strategic advisory role. Aubrey Jarred has been appointed as the new Vice President and Controller, receiving a $315,000 base salary and performance-based incentive targets. These shifts in key financial and operational management roles represent a significant realignment of the company's executive structure.