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| Name | Symbol | Market | Type |
|---|---|---|---|
| Iberdrola SA (PK) | USOTC:IBDRY | OTCMarkets | Depository Receipt |
| Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.86 | 1.67% | 52.42 | 49.11 | 52.53 | 52.63 | 52.22 | 52.63 | 31,271 | 21:44:36 |
From Nov 2023 to May 2024
By Colin Kellaher
Shares of PNM Resources slipped in premarket trading Tuesday after the power company's $4.3 billion deal to be acquired by Avangrid unraveled.
PNM, based in Albuquerque, N.M., said Avangrid walked away from the 2020 agreement to buy PNM for $50.30 a share after the companies were unable to win New Mexico regulatory approval.
New Mexico's supreme court is reviewing a decision by state regulators denying the transaction, but Avangrid, which is 81.5%-owned by Spain's Iberdrola, said there was still no clear timing on the resolution of the court's review or any subsequent regulatory actions as 2023 came to a close.
PNM said it will continue to target long-term earnings growth of 5%, adding that it plans to give a financial update, including preliminary 2023 results and 2024 guidance, on Feb. 6.
PNM shares, which ended 2023 at $41.60 amid investor doubts that the deal would go through, were recently down 3.9% to $39.99 in premarket trading.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
January 02, 2024 06:21 ET (11:21 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
1 Year Iberdrola (PK) Chart |
1 Month Iberdrola (PK) Chart |
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