From Yahoo Finance: 2025-05-19 08:41:00

TXNM Energy, Inc. shares rise premarket as Blackstone Infrastructure agrees to acquire the company for $61.25 per share in cash, a 23.0% premium over its unaffected 30-day VWAP. The total enterprise value of the transaction is $11.5 billion, including net debt and preferred stock. Blackstone Infrastructure will also invest $400 million through a private placement agreement, supporting TXNM Energy’s growth plans.

The acquisition is funded through equity and assumption of existing debt. TXNM Energy’s Board of Directors unanimously approves the transaction, expected to close in the second half of 2026 pending shareholder and regulatory approvals. Shareholders will continue to receive dividends until the closing. Pat Collawn will step down as Executive Chair, with Don Tarry taking over as President and CEO.

TXNM Energy’s success has been attributed to strategic investments in PNM and TNMP, aligning with customer and community priorities. The company has supplied over two-thirds of PNM’s electricity needs with carbon-free energy and supported double-digit demand growth at TNMP. Investors can access the stock through Virtus Reaves Utilities ETF and Tema Electrification ETF.

TXNM shares are up 9.23% at $57.76 premarket. Investors can anticipate continued dividend payments until the transaction closes. Pat Collawn will transition from Executive Chair to make way for new leadership, effective July 1, 2025. Don Tarry will assume the role of President and CEO to oversee TXNM Energy’s ongoing operations.



Read more at Yahoo Finance: Why Is TXNM Energy Stock Soaring On Monday?