{"id":1197,"date":"2025-05-20T11:43:45","date_gmt":"2025-05-20T11:43:45","guid":{"rendered":"https:\/\/pst.inthemaking.be\/pst\/blog\/2025\/05\/20\/blackstone-infrastructure-to-acquire-txnm-energy-in-11-5-billion-deal-power-systems-technology-news\/"},"modified":"2025-06-30T17:43:37","modified_gmt":"2025-06-30T17:43:37","slug":"blackstone-infrastructure-to-acquire-txnm-energy-in-11-5-billion-deal-power-systems-technology-news","status":"publish","type":"post","link":"https:\/\/pst.inthemaking.be\/pst\/blackstone-infrastructure-to-acquire-txnm-energy-in-11-5-billion-deal-power-systems-technology-news\/","title":{"rendered":"Blackstone Infrastructure to Acquire TXNM Energy in $11.5 Billion Deal"},"content":{"rendered":"<h5 data-start=\"112\" data-end=\"496\"><strong data-start=\"112\" data-end=\"141\">Blackstone Infrastructure<\/strong> has entered into a definitive agreement to acquire <strong data-start=\"193\" data-end=\"208\">TXNM Energy<\/strong> (<strong data-start=\"210\" data-end=\"224\">NYSE: TXNM<\/strong>) for $61.25 per share in cash, valuing the company at approximately $11.5 billion including net debt and preferred stock. The deal underscores Blackstone\u2019s commitment to long-term infrastructure investment in the evolving energy landscape of <strong data-start=\"467\" data-end=\"481\">New Mexico<\/strong> and <strong data-start=\"486\" data-end=\"495\">Texas<\/strong>.<\/h5>\n<p>&nbsp;<\/p>\n<p class=\"\" data-start=\"498\" data-end=\"785\"><strong data-start=\"498\" data-end=\"513\">TXNM Energy<\/strong>, the parent company of utilities <strong data-start=\"547\" data-end=\"554\">PNM<\/strong> and <strong data-start=\"559\" data-end=\"567\">TNMP<\/strong>, will remain locally managed and operated. Current headquarters and workforce in New Mexico and Texas will be retained, along with all union agreements. Customer rates will continue to be regulated at the state level.<\/p>\n<p class=\"\" data-start=\"787\" data-end=\"1019\">As part of the transaction, <strong data-start=\"815\" data-end=\"844\">Blackstone Infrastructure<\/strong> will also invest $400 million in newly issued TXNM shares and support an additional $400 million equity issuance, helping finance TXNM\u2019s expanding infrastructure initiatives.<\/p>\n<p class=\"\" data-start=\"1021\" data-end=\"1264\">The deal has received unanimous approval from <strong data-start=\"1067\" data-end=\"1082\">TXNM Energy<\/strong>\u2019s Board of Directors and is expected to close in the second half of 2026, pending shareholder and regulatory approvals from agencies including the <strong data-start=\"1230\" data-end=\"1239\">NMPRC<\/strong>, <strong data-start=\"1241\" data-end=\"1249\">PUCT<\/strong>, and <strong data-start=\"1255\" data-end=\"1263\">FERC<\/strong>.<\/p>\n<p class=\"\" data-start=\"1266\" data-end=\"1509\">Upon completion, <strong data-start=\"1283\" data-end=\"1298\">Pat Collawn<\/strong> will step down as Executive Chair, with <strong data-start=\"1339\" data-end=\"1352\">Don Tarry<\/strong> continuing as President and CEO. No additional debt will be issued for the acquisition, and dividends are expected to continue until the transaction closes.<\/p>\n<p>&nbsp;<\/p>\n<footer>\n<p><em>Source:&nbsp;blackstone.com<\/em><\/p>\n<\/footer>\n","protected":false},"excerpt":{"rendered":"<p>Blackstone Infrastructure has entered into a definitive agreement to acquire TXNM Energy (NYSE: TXNM) for $61.25 per share in cash, valuing the company at approximately $11.5 billion including net debt and preferred stock. The deal underscores Blackstone\u2019s commitment to long-term infrastructure investment in the evolving energy landscape of New Mexico and Texas. &nbsp; TXNM Energy, [&hellip;]<\/p>\n","protected":false},"author":3090,"featured_media":1198,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[808],"tags":[782],"class_list":["post-1197","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-us-news","tag-pstus"],"acf":[],"_links":{"self":[{"href":"https:\/\/pst.inthemaking.be\/pst\/wp-json\/wp\/v2\/posts\/1197","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/pst.inthemaking.be\/pst\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pst.inthemaking.be\/pst\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pst.inthemaking.be\/pst\/wp-json\/wp\/v2\/users\/3090"}],"replies":[{"embeddable":true,"href":"https:\/\/pst.inthemaking.be\/pst\/wp-json\/wp\/v2\/comments?post=1197"}],"version-history":[{"count":1,"href":"https:\/\/pst.inthemaking.be\/pst\/wp-json\/wp\/v2\/posts\/1197\/revisions"}],"predecessor-version":[{"id":7413,"href":"https:\/\/pst.inthemaking.be\/pst\/wp-json\/wp\/v2\/posts\/1197\/revisions\/7413"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/pst.inthemaking.be\/pst\/wp-json\/wp\/v2\/media\/1198"}],"wp:attachment":[{"href":"https:\/\/pst.inthemaking.be\/pst\/wp-json\/wp\/v2\/media?parent=1197"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pst.inthemaking.be\/pst\/wp-json\/wp\/v2\/categories?post=1197"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pst.inthemaking.be\/pst\/wp-json\/wp\/v2\/tags?post=1197"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}