TXNM Energy Shareholders Overwhelmingly Approve Acquisition by Blackstone Infrastructure
TXNM Energy (NYSE: TXNM) shareholders have overwhelmingly approved the proposed acquisition by Blackstone Infrastructure. The deal received 99.6% approval from voting shares, representing 88.2% of total outstanding shares. Under the agreement, shareholders will receive $61.25 in cash per share at closing.
The transaction requires multiple regulatory approvals, including from the New Mexico Public Regulation Commission, Public Utility Commission of Texas, Federal Energy Regulatory Commission, Department of Justice, Nuclear Regulatory Commission, and Federal Communications Commission. The acquisition is expected to close in the second half of 2026, subject to regulatory approvals and customary closing conditions.
TXNM Energy (NYSE: TXNM) ha ottenuto l'approvazione schiacciante degli azionisti per l'acquisizione proposta da Blackstone Infrastructure. L'accordo ha ricevuto il 99,6% di voti favorevoli tra le azioni votanti, corrispondenti al 88,2% del capitale sociale in circolazione. Al perfezionamento, agli azionisti spetterà un corrispettivo in contanti di $61,25 per azione.
La transazione è soggetta a diverse autorizzazioni normative, tra cui quelle della New Mexico Public Regulation Commission, della Public Utility Commission of Texas, della Federal Energy Regulatory Commission, del Dipartimento di Giustizia, della Nuclear Regulatory Commission e della Federal Communications Commission. L'acquisizione dovrebbe concludersi nella seconda metà del 2026, subordinatamente alle approvazioni regolamentari e alle consuete condizioni di chiusura.
TXNM Energy (NYSE: TXNM) obtuvo la aprobación abrumadora de los accionistas para la adquisición propuesta por Blackstone Infrastructure. El acuerdo recibió el 99,6% de apoyo de las acciones votantes, equivalentes al 88,2% del total de acciones en circulación. Al cierre, los accionistas recibirán $61,25 en efectivo por acción.
La transacción requiere varias aprobaciones regulatorias, incluidas las de la New Mexico Public Regulation Commission, la Public Utility Commission of Texas, la Federal Energy Regulatory Commission, el Departamento de Justicia, la Nuclear Regulatory Commission y la Federal Communications Commission. Se espera que la adquisición se complete en la segunda mitad de 2026, sujeta a las aprobaciones regulatorias y a las condiciones habituales de cierre.
TXNM Energy (NYSE: TXNM)의 주주들이 Blackstone Infrastructure의 인수 제안을 압도적으로 승인했습니다. 이 거래는 의결권 있는 주식의 99.6% 찬성을 얻었으며, 이는 전체 발행 주식의 88.2%에 해당합니다. 거래 종결 시 주주들은 주당 $61.25 현금을 받게 됩니다.
이번 거래는 뉴멕시코 공공규제위원회(New Mexico Public Regulation Commission), 텍사스 공익위원회(Public Utility Commission of Texas), 연방 에너지규제위원회(Federal Energy Regulatory Commission), 법무부(Department of Justice), 원자력규제위원회(Nuclear Regulatory Commission), 연방통신위원회(Federal Communications Commission) 등의 여러 규제 승인 절차를 필요로 합니다. 인수는 규제 승인 및 통상적인 종결 조건 충족을 전제로 2026년 하반기에 완료될 것으로 예상됩니다.
TXNM Energy (NYSE: TXNM) a obtenu l'approbation massive des actionnaires pour l'acquisition proposée par Blackstone Infrastructure. L'opération a recueilli 99,6 % d'avis favorables des actions votantes, représentant 88,2 % des actions en circulation. À la clôture, les actionnaires recevront 61,25 $ en espèces par action.
La transaction nécessite plusieurs autorisations réglementaires, notamment de la New Mexico Public Regulation Commission, de la Public Utility Commission of Texas, de la Federal Energy Regulatory Commission, du Department of Justice, de la Nuclear Regulatory Commission et de la Federal Communications Commission. L'acquisition devrait être finalisée dans la seconde moitié de 2026, sous réserve des approbations réglementaires et des conditions de clôture habituelles.
TXNM Energy (NYSE: TXNM) hat von den Aktionären die Zustimmung für die vorgeschlagene Übernahme durch Blackstone Infrastructure in überwältigendem Umfang erhalten. Die Vereinbarung wurde von 99,6% der stimmberechtigten Aktien genehmigt, was 88,2% der ausgegebenen Stammaktien entspricht. Beim Vollzug erhalten die Aktionäre $61,25 in bar pro Aktie.
Die Transaktion bedarf mehrerer behördlicher Genehmigungen, unter anderem von der New Mexico Public Regulation Commission, der Public Utility Commission of Texas, der Federal Energy Regulatory Commission, dem Justizministerium, der Nuclear Regulatory Commission und der Federal Communications Commission. Der Abschluss der Übernahme wird, vorbehaltlich der regulatorischen Genehmigungen und der üblichen Abschlussbedingungen, für die zweite Hälfte des Jahres 2026 erwartet.
- Strong shareholder support with 99.6% approval from voting shares
- Premium cash offer of $61.25 per share for stockholders
- Backing by major institutional investor Blackstone Infrastructure
- Extended closing timeline until second half of 2026
- Multiple regulatory approvals still pending from six different agencies
- Loss of public trading status post-acquisition
ALBUQUERQUE, N.M., Aug. 28, 2025 /PRNewswire/ -- TXNM Energy (NYSE: TXNM) shareholders voted overwhelmingly to approve the agreement under which Blackstone Infrastructure will acquire TXNM Energy at a special shareholders meeting held earlier today. Under the terms of the proposed agreement, TXNM Energy shareholders will receive
Of the shares voted, 99.6 percent voted to approve the proposed agreement, reflecting 88.2 percent of shares issued and outstanding on the record date. TXNM Energy will report the final vote results in a Current Report on Form 8-K to be filed with the Securities and Exchange Commission.
Regulatory approvals from the New Mexico Public Regulation Commission, Public Utility Commission of
TXNM Energy continues to anticipate that the closing of the acquisition will occur in the second half of 2026, subject to the satisfaction or waiver of the customary closing conditions, including among other things, receipt of required state and federal regulatory approvals.
About TXNM Energy:
TXNM Energy (NYSE: TXNM), an energy holding company based in
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FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements. Forward-looking statements may be identified by the use of forward-looking terms such as "may," "will," "should," "can," "expects," "believes," "anticipates," "intends," "plans," "estimates," "projects," "assumes," "guides," "targets," "forecasts," "is confident that" and "seeks" or the negative of such terms or other variations on such terms or comparable terminology. These forward-looking statements generally include statements regarding the proposed merger, including any statements regarding the expected timetable for completing the proposed transaction, the ability to complete the merger, the expected benefits of the merger, projected financial information, future opportunities, and any other statements regarding TXNM Energy's and Blackstone Infrastructure's future expectations, beliefs, plans, objectives, results of operations, financial condition and cash flows, or future events or performance. Readers are cautioned that all forward-looking statements are based upon current expectations and estimates. TXNM Energy's business, financial condition, cash flow, and operating results are influenced by many factors, which are often beyond its control, that can cause actual results to differ from those expressed or implied by the forward-looking statements. In addition to any assumptions and other factors referred to specifically in connection with such forward-looking statements, factors that could cause our actual results to differ materially from those contemplated in any forward-looking statements include, among others, the following: the failure of Blackstone Infrastructure to obtain any equity, debt or other financing necessary to complete the merger, the expected timing and likelihood of completion of the pending merger, including the timing, receipt and terms and conditions of any required governmental and regulatory approvals of the pending merger that could reduce anticipated benefits or cause the parties to abandon the transaction, the occurrence of any event, change or other circumstances that could give rise to the termination of the merger agreement, including in circumstances requiring TXNM Energy to pay a termination fee, the risk that the parties may not be able to satisfy the conditions to the proposed merger in a timely manner or at all; the receipt of an unsolicited offer from another party to acquire our assets or capital stock that could interfere with the merger, the outcome of any legal proceedings, regulatory proceedings or enforcement matters that may be instituted relating to the merger, risks related to disruption of management time from ongoing business operations due to the proposed merger, the risk that the proposed transaction and its announcement could have an adverse effect on the ability of TXNM Energy to retain and hire key personnel and maintain relationships with its customers and suppliers, and on its operating results and businesses generally, the announcement and pendency of the merger, during which TXNM Energy is subject to certain operating restrictions, could have an adverse effect on TXNM Energy's businesses, results of operations, financial condition or cash flows, the costs incurred to consummate the merger, the risk that the price of TXNM Energy's common stock may fluctuate during the pendency of the proposed transaction and may decline significantly if the proposed transaction is not completed, and other risks detailed in TXNM Energy's filings with the Securities and Exchange Commission, including its most recent Form 10-K for the fiscal year ended December 31, 2024, and in subsequently filed Forms 10-Q and 8-K, the Proxy Statement and in any other documents filed by TXNM Energy with the Securities and Exchange Commission after the date thereof.
Any such forward-looking statement is qualified by reference to these risks and factors. TXNM Energy cautions against putting undue reliance on forward-looking statements or projecting any future results based on such statements. Forward-looking statements speak only as of the date of the particular statement, and TXNM Energy does not undertake to update any forward-looking statement contained herein.
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SOURCE TXNM Energy, Inc.
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