[Lwvcnmtopics] PNM Shareholders approve merger

[George Richmond]

No surprise, but there are more hurdles.


      PNM Resources Shareholders Approve Proposed AVANGRID Merger

02/12/2021

/Proxy vote represents latest milestone in approval process/

ORANGE, Conn.--(BUSINESS WIRE)-- AVANGRID, Inc. (NYSE: AGR), a leading 
clean energy company, marked an important milestone in its proposed PNM 
Resources, Inc. (NYSE: PNM) merger as PNM Resources’ shareholders voted 
[overwhelmingly] in favor of the transaction.

AVANGRID announced the strategic PNM Resources merger combination in 
October 2020 in an all cash offer for PNM Resources’ shares at $50.30 
per share, an $8.3 billion enterprise value transaction. The resulting 
entity would be one of the major clean energy companies in the US with 
ten regulated utilities in six states and the third largest renewables 
company with operations in 24 states.

“Approval by PNM’s shareholders is an important step toward realizing 
this strategic transaction. Our two companies share the same values and 
we are passionate about our customers, employees, and the communities we 
serve,” said Dennis V. Arriola, CEO of AVANGRID.

The approval follows recent regulatory clearance from the Committee on 
Foreign Investment in the United States (CFIUS) and the expiration of 
the waiting period under the Hart Scott Rodino Antitrust Improvements Act.

*The company continues to pursue state and Federal regulatory approvals 
for the merger, including approvals from the Federal Energy Regulatory 
Commission, the Federal Communications Commission, and the Nuclear 
Regulatory Commission, as well as the New Mexico Public Regulation 
Commission and the Public Utility Commission of Texas.
*

*
*

*Have a great weekend*

*George Richmond
*

-- 
George M. Richmond
152 Juniper Hill Road, NE
Albuquerque, NM 87122-1913

C: 505-280-2105
E: geomrich1 at comcast.net



-- 
This email has been checked for viruses by Avast antivirus software.
https://www.avast.com/antivirus
-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://mailman.swcp.com/pipermail/lwvcnmtopics/attachments/20210212/e3f8c07f/attachment.htm>