TXNM Energy rises on report of exploring sale after takeover interest
ReutersMar 11, 2025 12:45 PM
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
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