TXNM Energy agrees to $61.25/share Blackstone buyout; regulatory approvals pending

Filed May 1, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 9, 2025 · ~1 min read

Key Changes

• high

  Definitive merger agreement with Blackstone Infrastructure affiliates announced May 2025; shareholders to receive $61.25 cash per share. PUCT, FERC, FCC, and HSR approvals obtained; NMPRC and NRC approvals pending. Expected close H2 2026.

  MD&A: Merger with Blackstone Infrastructure verify on EDGAR →
• high

  Merger-related litigation and regulatory applications added to legal proceedings disclosure, reflecting new litigation activity and ongoing regulatory approval process for the transaction.

  Legal Proceedings verify on EDGAR →
• medium

  OBBBA legislation enacted July 2025 accelerates phase-out of IRA energy tax credits and restricts credits for foreign entities of concern. TXNM expects potentially higher costs for future renewable energy development.

  MD&A: OBBBA enactment verify on EDGAR →