{"id":456054,"date":"2021-03-11T09:42:04","date_gmt":"2021-03-11T14:42:04","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=456054"},"modified":"2021-03-11T09:42:04","modified_gmt":"2021-03-11T14:42:04","slug":"fcc-approves-transfer-of-licenses-related-to-avangrids-proposed-pnm-resources-merger","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/fcc-approves-transfer-of-licenses-related-to-avangrids-proposed-pnm-resources-merger\/","title":{"rendered":"FCC Approves Transfer of Licenses Related to AVANGRID\u2019s Proposed PNM Resources Merger"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\"><b>FCC Approves Transfer of Licenses Related to AVANGRID\u2019s Proposed PNM Resources Merger <\/b><\/p>\n<p class=\"bwalignc\"><i>Merger on track to close in the second half of 2021<\/i><\/p>\n<p>ORANGE, Conn.&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nAVANGRID, Inc. (NYSE: AGR), a leading sustainable energy company, announced today that it has received the approval of the transfer of operating licenses from the Federal Communications Commission (FCC) related to the proposed PNM Resources (NYSE: PNM) merger.\n<\/p>\n<p>\n\u201cWe are pleased with the continued progress of the required regulatory approvals for this transaction,\u201d said Dennis V. Arriola, CEO of AVANGRID. \u201cCombining AVANGRID and PNM Resources will bring together two companies committed to a clean energy future with a transaction that will deliver tangible benefits for customers in New Mexico and Texas.\u201d\n<\/p>\n<p>\nToday\u2019s announcement follows the recent approval of the merger by PNM Resources\u2019 shareholders, the receipt of regulatory clearance from the Committee on Foreign Investment in the United States (CFIUS) and the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act.\n<\/p>\n<p>\nThe company continues to pursue state and Federal regulatory approvals for the merger, including from the Nuclear Regulatory Commission and the Federal Energy Regulatory Commission (FERC), as well as the New Mexico Public Regulation Commission and the Public Utility Commission of Texas.\n<\/p>\n<p>\nAVANGRID announced the strategic PNM Resources merger combination in October 2020 in an all cash offer for PNM Resources\u2019 shares at $50.30 per share, an $8.3 billion enterprise value transaction. The resulting entity would be one of the major clean energy companies in the U.S. with ten regulated utilities in six states and the third largest renewables company with operations in 24 states.\n<\/p>\n<p><b>About AVANGRID: <\/b>AVANGRID, Inc. (NYSE: AGR) aspires to be the leading sustainable energy company in the United States. Headquartered in Orange, CT with approximately $38 billion in assets and operations in 24 U.S. states, AVANGRID has two primary lines of business: Avangrid Networks and Avangrid Renewables. Avangrid Networks owns and operates eight electric and natural gas utilities, serving more than 3.3 million customers in New York and New England. Avangrid Renewables owns and operates a portfolio of renewable energy generation facilities across the United States. AVANGRID employs approximately 7,000 people and has been recognized by Forbes and Just Capital as one of the 2021 JUST 100 companies \u2013 a list of America\u2019s best corporate citizens \u2013 and was ranked number one within the utility sector for its commitment to the environment and the communities it serves. The company supports the U.N.\u2019s Sustainable Development Goals and was named among the World\u2019s Most Ethical Companies in 2021 for the third consecutive year by the Ethisphere Institute. For more information, visit <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.avangrid.com%2F&amp;esheet=52394693&amp;newsitemid=20210311005644&amp;lan=en-US&amp;anchor=www.avangrid.com&amp;index=1&amp;md5=e2b62082034237f0949cd1a550c7a526\">www.avangrid.com<\/a>.\n<\/p>\n<p>\nForward-Looking Statements\n<\/p>\n<p>\nCertain statements made in this press release for AVANGRID that relate to future events or expectations, developments, projections, estimates, intentions, goals, targets, and strategies are made pursuant to the Private Securities Litigation Reform Act of 1995. All statements contained in this Press Release that do not relate to matters of historical fact should be considered forward-looking statements, and are generally identified by words such as \u201cmay,\u201d \u201cwill,\u201d \u201cwould,\u201d \u201ccan,\u201d \u201cexpect(s),\u201d \u201cintend(s),\u201d \u201canticipate(s),\u201d \u201cestimate(s),\u201d \u201cbelieve(s),\u201d \u201cfuture,\u201d \u201ccould,\u201d \u201cshould,\u201d \u201cplan(s),\u201d \u201caim(s),\u201d \u201cassume(s)\u201d, \u201cproject(s)\u201d, \u201ctarget(s)\u201d), \u201cforecast(s)\u201d, \u201cseek(s)\u201d and or the negative of such terms or other variations on such terms, comparable terminology or similar expressions. These forward-looking statements generally include statements regarding the potential transaction between AVANGRID and PNM Resources, including any statements regarding the expected timetable for completing the potential merger, the ability to complete the potential merger, the expected benefits of the potential merger, projected financial information, future opportunities, and any other statements regarding AVANGRID\u2019s and PNM Resources\u2019 future expectations, beliefs, plans, objectives, results of operations, financial condition and cash flows, or future events or performance. Readers are cautioned that all forward-looking statements are based upon current reasonable beliefs, expectations and assumptions. AVANGRID assumes any obligation to update this information. Because actual results may differ materially from those expressed or implied by these forward-looking statements, AVANGRID cautions readers not to place undue reliance on these statements.\n<\/p>\n<p>\nAVANGRID\u2019s business, financial condition, cash flow, and operating results are influenced by many factors, which are often beyond its control, that can cause actual results to differ from those expressed or implied by the forward-looking statements. For a discussion of risk factors and other important factors affecting forward-looking statements, please see AVANGRID\u2019s Form 10-K and Form 10-Q filings and the information filed on Avangrid\u2019s Forms 8-K with the Securities and Exchange Commission (the \u201cSEC\u201d) as well as its subsequent SEC filings, and the risks and uncertainties related to the proposed merger with PNM Resources, including, but not limited to: the expected timing and likelihood of completion of the pending merger, including the timing, receipt and terms and conditions of any required governmental and regulatory approvals of the pending merger that could reduce anticipated benefits or cause the parties to abandon the transaction, the failure by AVANGRID to obtain the necessary financing arrangement set forth in commitment letter received in connection with the Merger, the occurrence of any event, change or other circumstances that could give rise to the termination of the merger agreement, the risk that the parties may not be able to satisfy the conditions to the proposed Merger in a timely manner or at all, risks related to disruption of management time from ongoing business operations due to the proposed Merger, and the risk that the proposed transaction and its announcement could have an adverse effect on the ability of PNM Resources to retain and hire key personnel and maintain relationships with its customers and suppliers, and on its operating results and businesses generally. Other unpredictable or unknown factors not discussed in this communication could also have material adverse effects on forward looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date hereof.\n<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20210311005644r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20210311005644\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20210311005644\/en\/<\/a><\/span><\/p>\n<p><b>Media:<br \/>\n<\/b><br \/>Athena Hernandez, 203-231-2146 or <a rel=\"nofollow\" href=\"mailto:athena.hernandez@avangrid.com\">athena.hernandez@avangrid.com<\/a><\/p>\n<p><b>Investors:<br \/>\n<\/b><br \/>Patricia Cosgel, 203-499-2624 or <a rel=\"nofollow\" href=\"mailto:patricia.cosgel@avangrid.com\">patricia.cosgel@avangrid.com<\/a><\/p>\n<p><b>KEYWORDS:<\/b> Connecticut New Mexico Texas United States North America<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Other Energy Environment Utilities Oil\/Gas Alternative Energy Energy<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20210311005644\/en\/717452\/3\/AGR_VER_POS_RGB_%283%29.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>FCC Approves Transfer of Licenses Related to AVANGRID\u2019s Proposed PNM Resources Merger Merger on track to close in the second half of 2021 ORANGE, Conn.&#8211;(BUSINESS WIRE)&#8211; AVANGRID, Inc. (NYSE: AGR), a leading sustainable energy company, announced today that it has received the approval of the transfer of operating licenses from the Federal Communications Commission (FCC) related to the proposed PNM Resources (NYSE: PNM) merger. \u201cWe are pleased with the continued progress of the required regulatory approvals for this transaction,\u201d said Dennis V. Arriola, CEO of AVANGRID. \u201cCombining AVANGRID and PNM Resources will bring together two companies committed to a clean energy future with a transaction that will deliver tangible benefits for customers in New Mexico and Texas.\u201d Today\u2019s announcement follows &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/fcc-approves-transfer-of-licenses-related-to-avangrids-proposed-pnm-resources-merger\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;FCC Approves Transfer of Licenses Related to AVANGRID\u2019s Proposed PNM Resources Merger&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-456054","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>FCC Approves Transfer of Licenses Related to AVANGRID\u2019s Proposed PNM Resources Merger - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/fcc-approves-transfer-of-licenses-related-to-avangrids-proposed-pnm-resources-merger\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FCC Approves Transfer of Licenses Related to AVANGRID\u2019s Proposed PNM Resources Merger - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"FCC Approves Transfer of Licenses Related to AVANGRID\u2019s Proposed PNM Resources Merger Merger on track to close in the second half of 2021 ORANGE, Conn.&#8211;(BUSINESS WIRE)&#8211; AVANGRID, Inc. (NYSE: AGR), a leading sustainable energy company, announced today that it has received the approval of the transfer of operating licenses from the Federal Communications Commission (FCC) related to the proposed PNM Resources (NYSE: PNM) merger. \u201cWe are pleased with the continued progress of the required regulatory approvals for this transaction,\u201d said Dennis V. Arriola, CEO of AVANGRID. \u201cCombining AVANGRID and PNM Resources will bring together two companies committed to a clean energy future with a transaction that will deliver tangible benefits for customers in New Mexico and Texas.\u201d Today\u2019s announcement follows &hellip; Continue reading &quot;FCC Approves Transfer of Licenses Related to AVANGRID\u2019s Proposed PNM Resources Merger&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/fcc-approves-transfer-of-licenses-related-to-avangrids-proposed-pnm-resources-merger\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-03-11T14:42:04+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20210311005644r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/fcc-approves-transfer-of-licenses-related-to-avangrids-proposed-pnm-resources-merger\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/fcc-approves-transfer-of-licenses-related-to-avangrids-proposed-pnm-resources-merger\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"FCC Approves Transfer of Licenses Related to AVANGRID\u2019s Proposed PNM Resources Merger\",\"datePublished\":\"2021-03-11T14:42:04+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/fcc-approves-transfer-of-licenses-related-to-avangrids-proposed-pnm-resources-merger\\\/\"},\"wordCount\":1048,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/fcc-approves-transfer-of-licenses-related-to-avangrids-proposed-pnm-resources-merger\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cts.businesswire.com\\\/ct\\\/CT?id=bwnews&amp;sty=20210311005644r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/fcc-approves-transfer-of-licenses-related-to-avangrids-proposed-pnm-resources-merger\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/fcc-approves-transfer-of-licenses-related-to-avangrids-proposed-pnm-resources-merger\\\/\",\"name\":\"FCC Approves Transfer of Licenses Related to AVANGRID\u2019s Proposed PNM Resources Merger - 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(NYSE: AGR), a leading sustainable energy company, announced today that it has received the approval of the transfer of operating licenses from the Federal Communications Commission (FCC) related to the proposed PNM Resources (NYSE: PNM) merger. \u201cWe are pleased with the continued progress of the required regulatory approvals for this transaction,\u201d said Dennis V. Arriola, CEO of AVANGRID. \u201cCombining AVANGRID and PNM Resources will bring together two companies committed to a clean energy future with a transaction that will deliver tangible benefits for customers in New Mexico and Texas.\u201d Today\u2019s announcement follows &hellip; Continue reading \"FCC Approves Transfer of Licenses Related to AVANGRID\u2019s Proposed PNM Resources Merger\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/fcc-approves-transfer-of-licenses-related-to-avangrids-proposed-pnm-resources-merger\/","og_site_name":"Market Newsdesk","article_published_time":"2021-03-11T14:42:04+00:00","og_image":[{"url":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20210311005644r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/fcc-approves-transfer-of-licenses-related-to-avangrids-proposed-pnm-resources-merger\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/fcc-approves-transfer-of-licenses-related-to-avangrids-proposed-pnm-resources-merger\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"FCC Approves Transfer of Licenses Related to AVANGRID\u2019s Proposed PNM Resources Merger","datePublished":"2021-03-11T14:42:04+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/fcc-approves-transfer-of-licenses-related-to-avangrids-proposed-pnm-resources-merger\/"},"wordCount":1048,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/fcc-approves-transfer-of-licenses-related-to-avangrids-proposed-pnm-resources-merger\/#primaryimage"},"thumbnailUrl":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20210311005644r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/fcc-approves-transfer-of-licenses-related-to-avangrids-proposed-pnm-resources-merger\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/fcc-approves-transfer-of-licenses-related-to-avangrids-proposed-pnm-resources-merger\/","name":"FCC Approves Transfer of Licenses Related to AVANGRID\u2019s Proposed PNM Resources Merger - 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