New York, February 2, 2026, 19:18 EST — After-hours
- GEV shares ended up about 4% at $754.97; steady after hours
- Closed $5.275 billion purchase of remaining Prolec GE stake
- Launched registered senior notes offering to help fund the deal; planned debt carries investment-grade ratings
GE Vernova shares rose about 4% on Monday, closing at $754.97. The stock held near that level in after-hours trading.
GE Vernova said it bought the remaining 50% of Prolec GE from Xignux for $5.275 billion, funded with an equal mix of cash and debt, and said the deal should be immediately accretive — expected to add to earnings — before synergies. Prolec has about 10,000 employees across seven manufacturing sites in the Americas, including five in the United States, and makes transformers and components as utilities push grid upgrades. Scott Strazik said the company was “excited to reach this important milestone,” while Philippe Piron said, “Our customers are asking for more capacity from the grid,” and Ricardo Suarez called the tie-up “a natural next step.” (GE Vernova)
GE Vernova also said it launched a registered public offering of senior notes — a type of corporate bond — subject to market conditions. It said the net proceeds would go to general corporate purposes, including financing part of the Prolec GE purchase. Citigroup Global Markets, J.P. Morgan Securities and Morgan Stanley are joint book-running managers, the company said. (GE Vernova)
A preliminary prospectus supplement filed with the U.S. Securities and Exchange Commission showed the company is marketing three series of senior notes and does not plan to list them on an exchange. The filing put cash, cash equivalents and restricted cash at $8.848 billion as of Dec. 31, 2025 and said it expected to use about $5.275 billion of cash on hand before the offering closes to fund the Prolec purchase price.
Fitch Ratings rated the planned senior unsecured notes “BBB+” and affirmed GE Vernova’s long-term issuer rating at “BBB+” with a positive outlook. S&P Global Ratings assigned a “BBB” issue-level rating, keeping the planned borrowing in investment-grade territory. (Fitch Ratings)
The close capped a sixth straight session of gains and set a new 52-week high, market data showed. Trading volume was above the stock’s 50-day average. (MarketWatch)
But the wind business still sits in the risk column. GE Vernova last week said the wind segment posted a $598 million adjusted EBITDA loss in 2025 and expects about $400 million of segment losses in 2026 as offshore projects run into turbine issues and delays. A higher-for-longer rate backdrop could also make the note sale more expensive than bulls assume. (Reuters)
Traders will watch for the final size and pricing of the notes once the company updates its prospectus. The next scheduled checkpoint is GE Vernova’s first-quarter earnings webcast on April 22. (GE Vernova)
