AES Corp Acquiring DPL Inc For $4.7 Billion
Apr 20, 2011
DPL Inc. (NYSE:DPL) announced early this morning that it has entered into a definitive agreement to merge with The AES Corporation (NYSE:AES) in which AES will acquire DPL in a transaction with an enterprise value of $4.7 billion.
Under the terms, AES will acquire all outstanding shares of DPL for approximately $3.5 billion, or $30 per share, which represents an 8.7% premium over DPL's closing share price on April 19th, 2011.
The board of directors for each company has unanimously approved of the deal, which is expected to close in the next 6 to 9 months, subject to approval by DPL's shareholders and receipt of regulatory approvals.
Shares of AES are trading up 3.69% at $12.93.
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