IBDRY - PNM Resources Avangrid accept merger modifications

PNM Resources (NYSE:PNM) and Avangrid (NYSE:AGR) file a response with New Mexico regulators affirming their willingness to accept all recommended conditions if the Public Regulation Commission decides to approve their merger, the Albuquerque Journal reports. If the PRC approves the merger, Avangrid would acquire PNM Resources and its two utility subsidiaries, Public Service Co. of New Mexico and Texas New Mexico Power, in an all-cash transaction valued at $4.3B. The merger partners negotiated an extensive settlement with parties in the case that contains more than $300M in rate relief for PNM customers, economic assistance for New Mexico and significant safeguards to ensure continued grid reliability.

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PNM Resources, Avangrid accept merger modifications