New Mexico regulators say ‘no’ to acquisition of PNM Resources

Can "No Deal" still be a "Win"?

 

State utility regulators in New Mexico moved this week to reject Avangrid Inc.’s proposed $8 billion acquisition of PNM Resources Inc.

The Public Regulation Commission said the risks of the deal by the Spanish energy giant and Avangrid parent Ibeerdrola SA far outweighed promised benefits to state ratepayers reported Reuters.

Click here for Reuters.