NEW YORK, Oct. 21, 2020 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, has launched an investigation into whether the board members of PNM Resources, Inc. (NYSE: PNM) breached their fiduciary duties or violated the federal securities laws in connection with the company’s merger with Avangrid, Inc. (NYSE: AGR).
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On October 21, 2020, PNM announced that it had signed an agreement to be acquired by Avangrid for approximately $8.3 billion. Pursuant to the merger agreement, PNM stockholders will receive $50.30 in cash for each share of PNM common stock owned. The close of the deal is subject to various regulatory approvals expected to be completed in approximately 12 months.
Bragar Eagel & Squire is concerned that PNM’s board of directors oversaw an unfair process and ultimately agreed to an inadequate merger agreement. Accordingly, the firm is investigating all relevant aspects of the deal and is committed to securing the best result possible for PNM’s stockholders.
If you own shares of PNM and are concerned about the proposed merger, or you are interested in learning more about the investigation or your legal rights and remedies, please contact Melissa Fortunato or Alexandra Raymond by email at email@example.com or telephone at (646) 860-9157, or by filling out this contact form. There is no cost or obligation to you.
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.