- El Paso Electric (NYSE:EE) agrees to be acquired by J.P. Morgan's Infrastructure Investments Fund for $68.25/share, representing an enterprise value of ~$4.3B.
- The deal includes commitments for $21M in credits on customer electric bills over 36 months and investments of $100M over 20 years to fund growth and economic development in EE's service area.
- EE serves 428K retail and wholesale customers in west Texas and southern New Mexico.
- EE +13.6% pre-market