TXNM Energy Gets Federal Approval to be Acquired by Blackstone

MT Newswires Live02-23 16:57

TXNM Energy (TXNM) said late Friday the Federal Energy Regulatory Commission authorized its pending acquisition by Blackstone (BX).

The agency determined the merger will not negatively impact market competition or consumer rates, the company said.

Regulators also dismissed objections regarding private equity control and data center ownership by Blackstone, citing adequate local financial protections, TXNM Energy said.

The company also said the transaction has already secured clearance from Texas utility regulators and the Federal Communications Commission, and still requires approvals from the Nuclear Regulatory Commission and the New Mexico Public Regulation Commission.

Shares of the company were up over 1% in recent Monday premarket activity.

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