Troutman Pepper Advises PNM Resources on $8.3B Strategic Merger with AVANGRID
NEW YORK – Troutman Pepper served as legal advisor to PNM Resources (NYSE: PNM) in its recently announced merger with AVANGRID (NYSE: AGR). The value of the transaction, which is subject to regulatory and shareholder approvals, is $8.3 billion, including the assumption of debt. The transaction is expected to close in the 4 thquarter of 2021.
The multidisciplinary Troutman Pepper team, led by Mason Bayler, includes David Carter, Coburn Beck, Camille Pompei, and Shane Nelson (M&A); David Meyers, Heather Ducat, and Sarah Hanna (SEC); Jeffrey Banish (Benefits); Robert Friedman (Tax); Jeffrey Gill, Ted Fauls, and Sarah Pylant (Finance); Amie Colby and Bob Edwards (Regulatory); and Brian Harms, Brian Fineman, and James McLeod (Energy). The Firm has previously advised PNM Resources in connection with numerous strategic mergers and acquisitions, financings and energy projects.
Troutman Pepper has one of the premier energy practices in the United States. Troutman Pepper’s public company energy practice can bring to bear top transactional and regulatory practitioners in order to maximize the value of transactions in the heavily regulated energy space. In addition, Troutman Pepper’s renewable energy practice is at the forefront of the rapidly evolving renewable energy industry. The firm represents utilities before state public service commissions in every type of proceeding and advises clients on business strategies to positively affect their operations and transactions. Troutman Pepper’s FERC practice is one of the largest and most successful in the U.S., both in terms of the size of its practice and breadth of its expertise representing clients for some of the industry’s most pressing issues.
About Troutman Pepper
Troutman Pepper is a national law firm known for its higher commitment to client care. With more than 1,100 attorneys in 23 U.S. cities, the firm partners with clients across every industry sector to help them achieve their business goals. Read more about the firm’s litigation, transactional, and regulatory practices at troutman.com.