By Colin Kellaher
Asset manager Blackstone is expanding its flourishing infrastructure business with a deal to buy energy holding company TXNM Energy for nearly $5.7 billion in cash.
TXNM on Monday said Blackstone Infrastructure has agreed to pay $61.25 a share for the Albuquerque, N.M., company, a roughly 16% premium to Friday's closing price of $52.88.
The deal, slated to close in the second half of 2026, carries an enterprise value of $11.5 billion, including net debt and preferred stock, TXNM said.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
May 19, 2025 06:46 ET (10:46 GMT)
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