# AVANGRID to acquire PNM Resources in $4.3B merger

AVANGRID will acquire all outstanding shares of PNM Resources for $50.30 per share in cash, representing an equity value of approximately $4.3 billion. The merger creates a leading U.S. regulated utility and renewable energy platform.

- Type: Acquisition
- Announced: 2020-10-21
- Where: United States
- Value: $4.30B
- Status: announced
- Products: electric and natural gas utility services, renewable energy
- Sectors: [Power Generation Equipment](https://endata.com/sectors/power-generation-equipment.md)

## Companies

- [Iberdrola](https://endata.com/companies/3003.md) (investor)
- [AVANGRID](https://endata.com/companies/50651.md) (acquirer)
- [PNM Resources](https://endata.com/companies/50652.md) (target)

## Sources

- [sec.gov](https://www.sec.gov/Archives/edgar/data/1108426/000119312520273264/d77373dex991.htm), 2020-10-21: "The agreement, which has been unanimously approved by both companies’ Boards of Directors, creates a leading U.S. regulated utility and renewable energy platform."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.