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Article: PNM Resources Completes Acquisition of TNP Enterprises; Company Secures All Approvals in 10 Months.
- Article from:
- Business Wire
- Article date:
- June 6, 2005
CopyrightCOPYRIGHT 2005 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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ALBUQUERQUE, N.M. -- PNM Resources (NYSE:PNM) today completed its acquisition of Fort Worth-based TNP Enterprises, just over 10 months after announcing the deal.
Officials of both companies signed the final documents this morning in New York City.
"The approval and regulatory processes went smoothly," said Jeff Sterba, PNM Resources chairman, president and CEO. "Employees from both companies did a fantastic job to put us in a position to close this acquisition in less than one year. Regulators in New Mexico, Texas and at the federal level were diligent in ensuring the acquisition was in the best interest of customers and both companies."
With ...