TXNM Energy shareholders approve Blackstone Infrastructure acquisition

TXNM Energy (NYSE: TXNM) shareholders voted to approve the company's acquisition by Blackstone Infrastructure at a special meeting held Wednesday. The transaction values TXNM Energy shares at $61.25 in cash per share.

Of the shares voted, 99.6 percent approved the proposed agreement, representing 88.2 percent of shares issued and outstanding on the record date, according to the company's press release. TXNM Energy will file final vote results with the Securities and Exchange Commission in a Current Report on Form 8-K.

The transaction requires regulatory approvals from multiple agencies including the New Mexico Public Regulation Commission, Public Utility Commission of Texas, Federal Energy Regulatory Commission, Department of Justice under Hart Scott-Rodino clearance requirements, Nuclear Regulatory Commission and Federal Communications Commission.

TXNM Energy expects the acquisition to close in the second half of 2026, subject to customary closing conditions including receipt of required state and federal regulatory approvals.

The Albuquerque-based energy holding company delivers power to more than 800,000 homes and businesses across Texas and New Mexico through its regulated utilities TNMP and PNM.

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