Txnm Energy Reaches All: time high on Blackstone's $11.5 bln takeover deal

TXNM Energy

19/05/2025 15:02

Updates

** Utility firm TXNM Energy's TXNM.N shares rise 6.9% to an all-time high of $56.51

** Company says it would be acquired by Blackstone's BX.N infrastructure unit in an $11.5 bln deal, including debt

** TXNM shareholders will receive $61.26/share, a premium of around 15% to stock's last closing price - based on Reuters calculation and LSEG data

** The deal is expected to be completed in the second half of 2026

** TXNM CEO Pat Collawn will step down upon the closing of the transaction, insider Don Tarry will succeed her

** Including session's move, shares up 15% YTD

(Reporting by Sumit Saha in Bengaluru)

((Sumit.Saha@thomsonreuters.com;))