TXNM Energy rises on report of exploring sale after takeover interest

TXNM Energy

11/03/2025 12:45

** Electric utility firm TXNM Energy's TXNM.N shares rise 8.6% to $51.89 premarket

** Co is exploring a sale of its operations after receiving interest from a potential suitor, Bloomberg News reported on Monday, citing people familiar with the matter

** TXNM provides electricity to approximately 800,000 homes and businesses in New Mexico and Texas through its two regulated utilities

** In 2024, Spanish electric utility company Iberdrola's IBE.MC U.S. arm Avangrid abandoned its $8.3 billion deal to buy TXNM after failing to secure approval from New Mexico's utility regulator

** Stock up 27% in the last 12 months

 (Reporting by Padmanabhan Ananthan)

 ((Padmanabhan.Ananthan@thomsonreuters.com;))