TXNM Energy Shareholders Approve Blackstone Acquisition in Overwhelming Vote
- TXNM Energy shareholders overwhelmingly approved Blackstone Infrastructure's acquisition, with 99.6% support at a special meeting.
- The acquisition reflects Blackstone's strategic investment in the energy sector, aiming to enhance TXNM Energy's operations.
- TXNM Energy anticipates closing the acquisition by late 2026, pending regulatory approvals and customary closing conditions.
TXNM Energy Shareholders Endorse Blackstone Infrastructure Acquisition
TXNM Energy, an Albuquerque-based energy holding company, secures a resounding endorsement from its shareholders for the proposed acquisition by Blackstone Infrastructure. At a special meeting held on August 28, 2025, an overwhelming 99.6% of the voting shares approve the agreement, translating to 88.2% of all issued and outstanding shares. This significant shareholder support underscores the confidence in Blackstone's ability to enhance TXNM Energy's operations and expand its service capabilities. As part of the acquisition deal, TXNM Energy shareholders will receive $61.25 in cash per share upon closing, marking a substantial return for investors.
The acquisition not only reflects Blackstone's strategic investment in the energy sector but also highlights the growing interest in utility companies that provide essential services to a large customer base. TXNM Energy operates through its subsidiaries, TNMP and PNM, delivering energy to over 800,000 homes and businesses. The transaction aligns with Blackstone's focus on long-term growth and infrastructure development, indicating a commitment to improving energy services and expanding customer access in the regions served by TXNM Energy.
Currently, TXNM Energy is working to secure the necessary regulatory approvals to finalize the acquisition. This includes obtaining clearance from key agencies such as the New Mexico Public Regulation Commission and the Federal Energy Regulatory Commission. The company anticipates that the acquisition will close in the second half of 2026, pending the satisfaction or waiver of customary closing conditions. TXNM Energy emphasizes that the merger's timeline, expected benefits, and financial projections are based on current expectations and estimates, and a Current Report on Form 8-K will be filed with the Securities and Exchange Commission to detail the final vote results.
In addition to the acquisition news, TXNM Energy's operational stability during this transition period remains a priority. The company continues to focus on providing reliable energy services while navigating the regulatory landscape. Stakeholders are encouraged to monitor the developments closely as TXNM Energy moves towards finalizing the deal, which promises to reshape its future under Blackstone's management.
For more information, TXNM Energy maintains an informative website at www.TXNMEnergy.com, where stakeholders can access updates on the acquisition process and additional corporate communications.