From Yahoo Finance: 2025-05-19 16:24:00

Blackstone Inc.’s infrastructure unit acquires TXNM Energy Inc. for $11.5 billion, offering $61.25 per share, a 23% premium. TXNM operates electric utilities serving 800,000 homes and businesses in New Mexico and Texas. Deal expected to close in second half of 2026 after approvals, with KKR & Co. also in talks.

Bloomberg notes a rise in US power demand due to new facilities like data centers and economy electrification. Recent deals, including NRG Energy’s $12 billion and Constellation Energy’s $16.4 billion acquisitions, signal a favorable environment for such transactions. Blackstone Infrastructure manages $60 billion in assets within Blackstone Inc.’s $1 trillion AUM.

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Read more: Blackstone (BX) Acquires TXNM Energy For $11.5 Billion