Announced
Financials
Sources
Press Release
PNM Resources -
SEC Press Release
PNM Resources -
Investor Presentation
PNM Resources -
SEC Agreement
PNM Resources -
Press Release
Avangrid -
Press Release
PNM Resources -
Press Release
Iberdrola -
Press Release
PNM Resources -
Press Release
Avangrid -
Press Release
PNM Resources -
Press Release
PNM Resources -
Press Release
Avangrid -
Termination Announcement
PNM Resources -
Termination Announcement
PNM Resources -
Tags
Acquisition
Majority
Friendly
Domestic
Single Bidder
Merger
United States
electricity distibution
Conventional Electricity
Public
Failed
Synopsis
Iberdrola-backed Avangrid, a US based diversified energy and utility company that provides clean energy, terminated the merger with PNM Resources, a company that generates, transmits and distributes electricity, in a $4.3bn deal. "We are greatly disappointed with Avangrid's decision to terminate the merger agreement and its proposed benefits to our customers, communities and shareholders. As we move forward, our strategic plans remain focused on the infrastructure investments necessary to meet the future energy needs of our customers and communities. We look to build upon our strong track record of delivering financial results and continue to target long-term earnings growth of 5%," Pat Vincent-Collawn, PNM Resources Chairman and CEO.
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