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E&E News17h
Blackstone to acquire New Mexico utility
Private equity firm Blackstone reached an agreement Monday to purchase TXNM Energy, in an $11.5 billion deal that reinforces investors’ enthusiasm for utilities as electricity demand rises.
T&D World1d
Blackstone Buying TXNM
Including debt and preferred stock, the deal values the parent of PNM and TNMP at about $11.5 billion. It is expected to close in the second half of 2026.
Albuquerque Journal8h
PNM’s parent company appoints new chief financial officer following proposed Blackstone sale announcement
The appointment comes the same week that TXNM Energy formally announced a buyout agreement with global private equity firm Blackstone.
Blackstone Is in Talks for New Mexico Utility Owner TXNM
Blackstone Inc. is in talks to acquire TXNM Energy Inc., the owner of New Mexico’s largest utility, according to people familiar with the matter.
Why Is TXNM Energy Stock Soaring On Monday?
TXNM Energy, Inc. (NYSE: TXNM) will be acquired by Blackstone Infrastructure for $61.25 per share in cash, representing a 23.0% premium. Total enterprise value is $11.5 billion, with no new debt expected.
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