FERC Authorizes TXNM Energy Acquisition by Blackstone Infrastructure
TXNM Energy Inc (NYSE: TXNM) has received the green light from the Federal Energy Regulatory Commission (FERC) regarding its acquisition by Blackstone Infrastructure.
On February 20, 2026, FERC issued an order confirming that the transaction aligns with public interest. The commission found no evidence suggesting that state or federal regulations would be hindered by this deal, nor did it find any adverse effects on pricing or competition.
FERC's decision came after dismissing concerns related to Blackstone Infrastructure's ownership of data centers and its status as a private equity firm. They emphasized the sufficiency of existing protections in New Mexico and Texas.
In addition to FERC's approval, the acquisition has also been sanctioned by the Federal Communications Commission (FCC), and the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act has concluded. Earlier this month, the Public Utility Commission of Texas (PUCT) approved a settlement for the acquisition, and TXNM Energy shareholders overwhelmingly backed the merger in August 2025.
However, the merger still requires final approval from the Nuclear Regulatory Commission and the New Mexico Public Regulation Commission (NMPRC).
For more details on the application and the order, please visit TXNM Energy's investor page.
TXNM Energy, based in Albuquerque, New Mexico, provides energy to over 800,000 homes and businesses across Texas and New Mexico via its regulated utilities, TNMP and PNM. For further information, visit www.TXNMEnergy.com.
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