BX · News · 20260914N
TXNM Financing and Deal Delay
Blackstone Inc. · 2026-09-14 · Importance 58 · Surprise 42 · In source text
The New Mexico Department of Justice is seeking details on the financial impact of Blackstone's TXNM acquisition on ratepayers. TXNM reversed a $400 million stock sale, repaid a Blackstone affiliate, and canceled the shares. Regulators are reviewing replacement financing and its potential effect on Public Service Company of New Mexico customers, while the merger termination deadline has been extended to May 31, 2027.
Key facts
- The New Mexico Department of Justice is raising questions regarding the Blackstone-TXNM acquisition specifically concerning the financial implications for ratepayers following TXNM's reversal of a $400 million stock sale. source
- TXNM repaid a Blackstone affiliate and canceled shares. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| assets | negative | probable | — | The New Mexico Department of Justice is raising questions regarding the Blackstone-TXNM acquisition specifically concerning the financial… |
| cash | positive | realized | — | TXNM repaid a Blackstone affiliate and canceled shares. |