PNM/AGR Merger Application Conditionally Approved

Outlining a few key takeaways from the PNM/AGR merger application being canvassed by Chairman Peter Lake and Commissioner Will McAdams of the Public Utility Commission of Texas, our M&A by Reorg team discusses the conditional approval of the application in detail. Texas-New Mexico Power Co., NM Green Holdings and Avangrid Inc.’s application was modified under a unanimous stipulation and on March 30 the commissioners motioned to approve the application last week. 

Furthermore, the Nuclear Regulatory Commission and the New Mexico Public Regulation Commission still need to review the transaction which is arranged to potentially be closed in H2 2021. Read our M&A team’s full update on the PNM/AGR merger application here: https://reorg.com/pnm-agr-merger/