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FERC Authorizes TXNM Energy Acquisition by Blackstone Infrastructure, Finds Transaction Consistent with Public Interest
Today, the Federal Energy Regulatory Commission (FERC) authorized the application for TXNM Energy (NYSE: TXNM) to be acquired by Blackstone Infrastructure.
About this update from Txnm Energy, Inc.
[{"type":"text","content":"ALBUQUERQUE, N.M., Feb. 20, 2026 /PRNewswire/ -- Today, the Federal Energy Regulatory Commission (FERC) authorized the application for TXNM Energy (NYSE: TXNM) to be acquired by Blackstone Infrastructure.","length":209,"tagName":"p"},{"type":"image","alt":"TXNM Energy Logo (PRNewsfoto/TXNM Energy, Inc.)","displaySize":"","headline":null,"caption":"TXNM Energy Logo (PRNewsfoto/TXNM Energy, Inc.)","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":190,"url":"https://media.zenfs.com/en/prnewswire.com/998ba3a9833cfcc2c401dca8bcdc33de"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/HC2COYFkfxGXpMlT75PDcA--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTMzNTtjZj13ZWJw/https://media.zenfs.com/en/prnewswire.com/998ba3a9833cfcc2c401dca8bcdc33de","width":400,"height":190}},"href":"https://mma.prnewswire.com/media/2464779/TXNM_Energy_Logo.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"The order states FERC finds the transaction consistent with the public interest. FERC concludes there is "no evidence that either state or federal regulation will be impaired by the proposed transaction", "no evidence that the proposed transaction will have an adverse effect on rates" and the proposed transaction will not have an adverse effect on horizontal or vertical competition. FERC rejected opposition based on data center ownership by Blackstone Infrastructure and affiliates and private equity ownership of public utilities, and relied on the adequacy of existing and committed state ring-fencing protections in New Mexico and Texas.","length":664,"tagName":"p"},{"type":"text","content":"The acquisition has received federal regulatory approval from the Federal Communications Commission (FCC), and the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act has expired. The Public Utility Commission of Texas (PUCT) approved a settlement for the acquisition earlier this month. TXNM Energy shareholders overwhelmingly approved the merger in August 2025.","length":381,"tagName":"p"},{"type":"text","content":"The merger also requires federal approval from the Nuclear Regulatory Commission and state approval from the New Mexico Public Regulation Commission (NMPRC).","length":157,"tagName":"p"},{"type":"text","content":"The order and additional materials pertaining to the applic...