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July 27, 2024

mergers and acquisitions

Electric cat, CC BY-SA 3.0, via Wikimedia Commons
FERC Approves Icahn Deal for AEP Board Seat
FERC approved granting voting rights to a member of American Electric Power’s board of directors who was appointed by investment firm Icahn Group.
Shutterstock
FERC Approves LS Power Gas Plant Purchase Despite PJM Monitor’s Concerns
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
Iberdrola to Take Full Ownership of Avangrid
Iberdrola is moving to acquire the 18.4% stake in Avangrid that it does not already own in a $2.55 billion deal.
Bridgepoint Group
FERC Rejects Bridgepoint-ECP Deal for Failing to Disclose Common Owner
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.
Shutterstock
Lights out for Avangrid’s PNM Acquisition

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.

Shutterstock
FERC Reconsidering Blanket Authorizations for Investment Companies
FERC opened an inquiry into whether it should continue to grant blanket authorizations for holding companies to purchase public electric utility securities.
FirstEnergy
Vistra Teases ‘Re-segmenting’ Businesses in 2024
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.
Energy Harbor
FERC Delays Ruling on Vistra Purchase of Energy Harbor
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.
Nuclear Regulatory Commission
Vistra’s Deal for Energy Harbor Runs into Opposition at FERC
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.
Edison Electric Institute
PNM, Avangrid Optimistic About Merger Prospects
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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