Proposed merger of New Mexico, Connecticut energy companies ends; deal valued at more than $4.3B

energy company fails to complete merger of resource companies in new mexico

Officials with New Mexico’s largest electric utility said Tuesday that a proposed multibillion-dollar merger with a U.S. subsidiary of global energy giant Iberdrola has been scuttled. Under the proposal, Connecticut-based Avangrid would have acquired PNM Resources and its two utilities. The two utility companies are Public Service Co. of New Mexico and Texas New Mexico Power. The…

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