Blackstone (BX) is in talks to acquire TXNM Energy (TXNM), the owner of New Mexico’s largest utility, David Carnevali, Ryan Gould and Dinesh Nair of Bloomberg report, citing people familiar with the matter. Blackstone Infrastructure Partners has emerged as the likeliest buyer of TXNM after other suitors dropped out of the bidding, sources told Bloomberg. An agreement could be reached as early as the coming weeks, but the talks may be delayed or falter, the people added. Shares of TXNM are up 1% to $53.65 following the report.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on TXNM:
- Blackstone in talks to acquire TXNM Energy, Bloomberg reports
- TXNM jumps 6% to $56.31 after Bloomberg report of Blackstone talks
- PNM Resources Reports Strong Financial Performance
- TXNM Energy’s Earnings Call Highlights Steady Growth Amid Challenges
- Morning Movers: Pinterest, Lyft jump following quarterly results