Avangrid Ends $4.3 Billion Deal With PNM Resources

Iberdrola’s 81.5%-owned U.S. business Avangrid has ended a merger agreement with PNM Resources after rejecting the latest bid to extend the $4.3 billion deal reached in October 2020.

The Spanish energy company said Tuesday that Avangrid terminated the deal given that conditions for closing it weren’t met in the timeframe the parties agreed to.