Stock Market Today, March 2: The AES Corporation Drops After $15 Buyout Deal Disappoints Market Expectations

The AES Corporation (NYSE:AES), a global power generation and utility company operating in 15 countries, closed Monday at $14.21, down 17.77%. The stock moved lower after news of a $15.00-per-share take-private agreement that fell short of market expectations. Trading volume reached 76.4 million shares, about 673% above its three-month average of 9.9 million shares. The AES Corporation IPO'd in 1991 and has grown 333% since going public.The S&P 500 finished Monday fractionally higher at 6,880, up 0.02%, while the Nasdaq Composite added 0.36% to close at 22,749. Among electric utilities, industry peers NextEra Energy closed at $92.68 (-1.16%) and Duke Energy finished at $131.65 (+0.61%), reflecting mixed sentiment toward the group.On Friday, there was speculation that BlackRock’s Global Infrastructure Partners LP and EQT AB were in talks to take AES private, and its stock jumped 6%. However, one trading day later, AES is down 17% after the market learned that the buyout price for the deal would only be $15 per share. Prior to today’s decline, AES was trading above $17 per share.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool