US EditionBlackstone to acquire TXNM Energy in $11.5 billion deal
- Blackstone Infrastructure agreed on May 19, 2025, to acquire TXNM Energy, a New Mexico-based energy holding company, for $11.5 billion including debt.
- This deal follows TXNM Energy's focus on delivering regulated energy via PNM and TNMP to over 800,000 customers amid growth and clean energy transitions.
- TXNM Energy will continue to be managed locally, maintaining its operational bases in both New Mexico and Texas, while preserving its workforce, upholding union labor agreements, and adhering to customer rates regulated by state authorities.
- TXNM Energy shareholders will be paid $61.25 in cash for each share, reflecting a 23.0% premium over the 30-day VWAP as of March 5, 2025, while Blackstone plans to inject $400 million by purchasing 8 million newly issued shares at $50 apiece.
- The transaction, unanimously approved by TXNM's board, awaits shareholder and regulatory approvals and is projected to close in the second half of 2026, supporting TXNM's growth and infrastructure goals.
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PNM parent company announces $11.5B proposed sale to Blackstone Infrastructure • Source New Mexico
A proposed deal to sell PNM's parent company to a private equity firm would keep the company headquartered in New MexicoTXNM Energy, the parent company for New Mexico Public Service Company of New Mexico, announced early Monday morning it has entered an agreement to be acquired by Blackstone Infrastructure, in a deal valued at $11.5 billion. A PNM news release says the deal, if approved by the New Mexico Public Regulation Commission, along with …
The Victoria Advocate
Kilgore News HeraldTXNM Energy Enters Agreement to be Acquired by Blackstone Infrastructure
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 TexasTXNM Energy, PNM and TNMP to remain…
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