mergers and acquisitions
FERC approved granting voting rights to a member of American Electric Power’s board of directors who was appointed by investment firm Icahn Group.
FERC approved LS Power’s purchase of an 810-MW natural gas plant in central Pennsylvania despite some qualms from PJM’s Independent Market Monitor.
Iberdrola is moving to acquire the 18.4% stake in Avangrid that it does not already own in a $2.55 billion deal.
FERC denied a merger proposal in which Bridgepoint tried to buy a 19.9% stake in Energy Capital Partners, saying it did so without prejudice because the first firm failed to disclose its relationship with a third – Blue Owl.
Avangrid has pulled the plug on its proposed $8.3 billion acquisition of PNM Resources, as final approval for the deal remains tied up at the New Mexico Supreme Court.
FERC opened an inquiry into whether it should continue to grant blanket authorizations for holding companies to purchase public electric utility securities.
Vistra says its acquisition of Energy Harbor and its nuclear plants will accelerate the company’s transformation and lead to a “re-segmentation” of its businesses when the deal closes.
FERC issued an order extending the time it has to review the proposed purchase of Energy Harbor by Vistra to next spring after several parties raised market concerns over the deal between two existing PJM generation owners.
Vistra Energy's deal to buy Energy Harbor ran into opposition at FERC, where parties argued it would harm Ohio's retail market and further concentrate PJM's wholesale market.
While PNM awaits a court decision that could revive a merger with Avangrid, PNM officials say they’ll keep running the company like it’s a standalone business.
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