Blackstone Infrastructure Acquisition of TXNM Energy

pending regulatory approval

Blackstone Infrastructure is acquiring TXNM Energy in an $11.5 billion deal, including assumption of net debt and preferred stock. The acquisition aims to provide long-term capital for clean energy transition, support TXNM's capital expenditure plans, and maintain local operations in New Mexico and Texas. The deal has received multiple regulatory approvals including FERC, FCC, and Texas PUCT, with remaining approvals pending from the New Mexico Public Regulation Commission and the Nuclear Regulatory Commission.