Business
TXNM Energy Enters Agreement to be Acquired by Blackstone Infrastructure
TXNM Energy (NYSE: TXNM) today announced an agreement under which Blackstone Infrastructure will acquire TXNM Energy for $61.25 per share in cash upon closing, reflecting a total enterprise value of $11.5 billion, including net debt (excluding securitization debt) and preferred stock.
About this update from Txnm Energy, Inc.
[{"type":"list","items":[{"val":[{"type":"text","content":"Provides long-term infrastructure investment to support the continued build-out of PNM and TNMP in a rapidly changing energy environment, facilitating economic development during New Mexico's transition to clean energy and continued growth in Texas","length":252,"tagName":"p"}]},{"val":[{"type":"text","content":"TXNM Energy, PNM and TNMP to remain locally managed and operated with headquarters in New Mexico and Texas, retain employees and honor all union labor agreements","length":161,"tagName":"p"}]},{"val":[{"type":"text","content":"Customer rates will continue to be set by state regulators","length":58,"tagName":"p"}]},{"val":[{"type":"text","content":"Customers to receive a detailed package of benefits that will be developed after thorough and transparent engagement with stakeholders in New Mexico and Texas","length":158,"tagName":"p"}]},{"val":[{"type":"text","content":"Blackstone Infrastructure provides long-term, patient capital and a commitment to strong investment grade credit metrics, aligned with TXNM Energy's long-term financing strategy","length":181,"tagName":"p"}]},{"val":[{"type":"text","content":"Shareholders to receive $61.25 per share in cash upon closing","length":61,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":871,"olType":false},{"type":"text","content":"ALBUQUERQUE, N.M., May 19, 2025 /PRNewswire/ -- TXNM Energy (NYSE: TXNM) today announced an agreement under which Blackstone Infrastructure will acquire TXNM Energy for $61.25 per share in cash upon closing, reflecting a total enterprise value of $11.5 billion, including net debt (excluding securitization debt) and preferred stock.","length":338,"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","hrefExter...