TXNM Energy reaches all-time high on Blackstone's $11.5 bln takeover deal
ReutersMay 19, 2025 2:02 PM
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
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