TXNM Energy gets FERC approval for $11.5 billion Blackstone deal

Feb 20 (Reuters) - ‌TXNM ​Energy ​on Friday said the U.S. ‌Federal Energy Regulatory Commission (FERC) ⁠had authorized the ‌company's acquisition by ‌Blackstone Infrastructure.

Last year, Blackstone agreed to acquire ​the utility company in an $11.5 ⁠billion deal, including debt.

FERC concluded that ​there is "no evidence that either state or ​federal regulation ‌will be impaired by the ⁠proposed transaction" and that the transaction will ⁠not have "an adverse effect ​on rates," the company said.

It added that the waiting ‌period under the Hart-Scott-Rodino Antitrust ‌Improvements Act has ⁠expired.

(Reporting by ‌Sumit ​Saha in Bengaluru; Editing by Maju ‌Samuel)

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