pnm terminates merger western resources executive news pnm terminates merger western resources albuquerque n based pnm resources announced tuesday board officially killed proposed deal buy western resources electric utility subsidiaries deal originally valued 4 billion trouble months side sued state court new york pnm said merger could terminated dec 31 terms deal satisfactory progress made towards completing transaction western disputed pnm grounds back deal pnm sued western october seeking get deal alleging breach contract part adverse rulings kansas corporation commission kcc rates western restructuring plan considered vital transaction western fired back lawsuit month later seeking least 650 million damages pnm alleged extortion breach contract sabotage improper interference kcc proceedings neither case decided although pnm asked court either dismiss western case delay action decided pnm initial suit western also appealed kcc order blocking planned restructuring preparation pnm transaction kansas district court western fired back lawsuit month later seeking least 650 million damages pnm alleged extortion breach contract sabotage improper interference kcc proceedings neither case decided although pnm asked court either dismiss western case delay action decided pnm initial suit western also appealed kcc order blocking planned restructuring preparation pnm transaction kansas district court