Avangrid Inc., a clean energy company, marked a milestone in its proposed PNM Resources Inc. merger as PNM Resources’ shareholders voted in favor of the transaction. Avangrid announced the strategic PNM Resources merger combination in October 2020 in an all cash offer for PNM Resources’ shares at $50.30 per share, an $8.3 billion enterprise value transaction.

“Approval by PNM’s shareholders is an important step toward realizing this strategic transaction. Our two companies share the same values and we are passionate about our customers, employees, and the communities we serve,” said Dennis V. Arriola, CEO of Avangrid.