PNM - PNM Resources hits session lows as New Mexico utility meeting discusses Avangrid deal

PNM Resources (NYSE:PNM) has fallen to session lows, now down 0.6%, as the New Mexico Public Regulation Commission is holding a meeting and discussing Avangrid's (NYSE:AGR) planned acquisition. PNM shares fell last week after a majority of commissioners at the New Mexico utility regulator said they were currently opposed to the deal at a meeting last week, prompting at least two analysts to say a deal now has a very low likelihood of approval. "There is a chance of it going ahead (not dead yet), but it's looking very unlikely to close," Citi analyst Ryan Levine wrote in a note last week. Developing story ...

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PNM Resources hits session lows as New Mexico utility meeting discusses Avangrid deal