TXNM Energy and Blackstone Infrastructure Extend Merger Agreement
PRNewsWire
Published: Jul 17, 2026, 08:30 PM
Sentiment Analysis
TXNM Energy and Blackstone Infrastructure have extended the terms of their merger agreement under which Blackstone Infrastructure will acquire the outstanding common stock of TXNM Energy. The termination date under the agreement has been extended to May 31, 2027, to allow for further time to obtain regulatory approvals.
The transaction has received approval from the Public Utility Commission of Texas (PUCT), the Federal Energy Regulatory Commission (FERC), the Federal Communications Commission (FCC) and under the waiting period required by the Hart-Scott-Rodino Antitrust Improvements Act. TXNM Energy shareholders overwhelmingly approved the merger in August 2025. The transaction is pending regulatory approval from the Nuclear Regulatory Commission and the New Mexico Public Regulation Commission (NMPRC).
The NMPRC procedural schedule has been paused, pending the filing and review of a report showing compliance with a Commission order involving a 2025 stock transaction between TXNM Energy and Blackstone Infrastructure.
"We remain committed to our proposed partnership with Blackstone Infrastructure because it is critical to TXNM Energy's long-term ability to provide clean, affordable and reliable power to the customers we serve," said Don Tarry, President and CEO of TXNM Energy. "We appreciate the NMPRC's careful review of this case and look forward to further demonstrating why this partnership will strengthen the grid, support long-term investment, and deliver meaningful benefits for customers and communities across New Mexico and Texas."
"Blackstone Infrastructure's extension of our merger agreement is a sign of our commitment to continue to work collaboratively with stakeholders as we demonstrate the significant benefits of the proposed merger," said Sean Klimczak, Global Head of Blackstone Infrastructure. "We remain focused on supporting TXNM Energy's future growth plans as well as New Mexico's ambitious clean and affordable energy goals."
Additionally, TXNM Energy has entered into a $400 million term loan in order to unwind the voided 2025 stock transaction. TXNM Energy plans to issue common stock to repay the term loan.
To continue the regulatory approval process before the NMPRC, the joint applicants intend to file a compliance report with the NMPRC before the end of July 2026. Pending the re-establishment of a procedural schedule, the transaction is estimated to close in the first half of 2027.
Source: PRNewsWire
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