From Yahoo Finance: 2025-05-20 05:28:00

Blackstone Infrastructure has agreed to acquire TXNM Energy for $11.5 billion in cash, with a per-share price of $61.25 including net debt and preferred stock. This acquisition will provide capital for TXNM Energy’s subsidiaries, PNM and TNMP, to meet electricity infrastructure demands and clean energy goals. PNM is focusing on aligning its generation portfolio with New Mexico’s clean energy objectives, while TNMP is increasing investments in its Texas service territory. Blackstone plans to fund the acquisition with equity and invest $400 million in TXNM Energy through a private placement agreement. The deal is set to close in June 2025, with financial and legal advisors on both sides. Additionally, Blackstone’s private equity fund recently acquired the Potomac Energy Center in Virginia, a natural gas-fired power plant near Washington DC.



Read more at Yahoo Finance: Blackstone to acquire TXNM Energy for $11.5bn