Core Viewpoint - The Public Utility Commission of Texas has approved the acquisition of TXNM Energy by Blackstone Infrastructure, confirming that the acquisition is in the public interest [2][4]. Group 1: Acquisition Details - The settlement includes $45 million in rate credits to customers, strong governance and local oversight, dividend restrictions, financial protections, and commitments to Texas communities [2][3]. - TXNM Energy shareholders overwhelmingly approved the merger in August 2025, and the acquisition has received federal regulatory approval from the FCC [4][5]. Group 2: Regulatory Approvals - The merger requires additional federal approval from the FERC and the Nuclear Regulatory Commission, as well as state approval from the New Mexico Public Regulation Commission [5]. - The waiting period under the Hart-Scott-Rodino Antitrust Improvements Act has expired, allowing the acquisition process to move forward [4]. Group 3: Company Background - TXNM Energy, based in Albuquerque, New Mexico, delivers energy to over 800,000 homes and businesses across Texas and New Mexico through its regulated utilities, TNMP and PNM [6].
Texas Commission Approves TXNM Energy Acquisition by Blackstone Infrastructure