FERC Clears Blackstone Infrastructure Acquisition of TXNM Energy (TXNM)

The Federal Energy Regulatory Commission (FERC) approved the acquisition of TXNM Energy (NYSE: TXNM) by Blackstone Infrastructure Partners on February 22, 2026. The regulatory order authorizes the transfer of control over TXNM’s jurisdictional transmission and generation facilities to the private equity firm. The decision removes a significant regulatory hurdle for the transaction, which aims to take the utility holding company private. The deal remains subject to approval from the New Mexico Public Regulation Commission and other customary closing conditions. The companies reaffirmed their expectation to complete the transaction in the second half of 2026.