AES Tietê seeks advisers to assess 'hostile' offer

AES Tietê seeks advisers to assess 'hostile' offer

M&A Equity Energy Electricity Brazil US

AES Tietê, a Brazilian subsidiary of the US power company AES Corp, plans to hire legal advisers to assess what it described as a "hostile" takeover from Brazil's Eneva, according to a securities filing. Eneva, a power generation company based in Rio de Janeiro, presented an unsolicited offer to merge AES Tietê on March 1. Eneva reaffirmed its interest on Sunday evening and added that it has invited AES Tietê executives to discuss the proposal. According to Eneva, shares in AES Tietê rose 8.4% a

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