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New Mexico regulators reject PNM Resources merger with Avangrid

By Global Infrastructure Sherpa · Feb 7, 2024
Acquisition Utilities announced United States Feb 7, 2024
USD4300M
Deal Value

New Mexico regulators rejected the proposed merger between PNM Resources and Avangrid, citing concerns about Avangrid's reliability and financial stability. The deal was valued at approximately $4.3 billion.

Timeline

Announced
Feb 7, 2024
Signed
Closed

Counterparts (2)

Seller
PNM
company · 1 deals
TXNM Energy, through its regulated utilities PNM and TNMP, serves electricity to approximately 800,0...
Buyer
Avangrid
company
Avangrid is a diversified energy company focused on renewable energy generation and electricity tran...

Market Context

This deal is part of the Utilities sector in United States.
5
Utilities deals
566
deals in United States

Source

www.utilitydive.com
1 of 5 Utilities deals tracked this month · Updated daily
View Full Deal Details

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