"Iberdrola's Avangrid Cancels $8.3 Billion PNM Resources Takeover Deal"

Spanish energy giant Iberdrola has canceled its planned $8.3 billion acquisition of the US-based power utility PNM Resources. This decision marks a significant shift in Iberdrola's expansion strategy within the North American energy market. The reasons behind the termination of the deal have not been detailed in the provided text.