Avangrid, PNM Resources Extend Merger Longstop, Appeal Regulator's Deal Rejection
04 Janvier 2022 - 8:54AM
Dow Jones News
By Cristina Roca
PNM Resources Inc. and Iberdrola SA unit Avangrid Inc. are
appealing a New Mexico regulator's decision to oppose their merger,
and have extended the longstop date of their merger agreement.
Iberdrola, which controls 81.5% of Avangrid, said Tuesday that
the two energy-services companies extended the longstop date of
their $8.3 billion merger deal to April 20, 2023.
The proposed combination was rejected by the New Mexico Public
Regulation Commission last month. Iberdrola said Tuesday that the
two companies have filed a notice of appeal before the state's
Supreme Court.
Write to Cristina Roca at cristina.roca@wsj.com
(END) Dow Jones Newswires
January 04, 2022 02:39 ET (07:39 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
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