TXNM Energy gains on Blackstone's $11.5 bln takeover deal
ReutersMay 19, 2025 11:12 AM
Utility firm TXNM Energy's TXNM.N shares rise 9.2% to $57.75 premarket
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
As of last close, shares up 7.5% YTD
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