Blackstone’s $11.5 Billion Power Move: TXNM Energy Acquisition Set to Reshape Southwest Utilities

Blackstone Infrastructure has announced a landmark agreement to acquire TXNM Energy for $61.25 per share in cash, valuing the deal at a staggering $11.5 billion. The transaction, unanimously approved by TXNM’s board, offers shareholders a 23% premium over the company’s 30-day average price as of early March 2025. Blackstone will fund the acquisition entirely with equity, ensuring TXNM’s current leverage levels remain unchanged.

 

Key Highlights:

This acquisition marks a major bet on the future of U.S. utilities, positioning Blackstone at the forefront of the Southwest’s energy transformation.

 

Sources: StockTitan, Blackstone (Press Release), Bloomberg