Active situationEnergyOngoing·Updated Apr 30, 2026·Published May 20, 2025
TXNM Energy / Blackstone — $6bn energy deal
TXNM / BX
NMPRC hearing examiner investigation into Blackstone's $400mn PIPE paused the procedural schedule. Public hearing on PIPE set for April 30. PUCT approved February 6; FERC authorized February 20.
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CTFN Editorial
Active Situations Desk · ctfn.news
Deal snapshot — free previewOngoing
Next event
NMPRC — Merger hearing (May 4-15)
May 4, 2026· in 2d
CTFN estimated close
Sep 30, 2026
Key risks
New Mexico PRC hearing examiners opened an investigation into Blackstone's $400mn PIPE purchase of TXNM shares, alleging it illegally bypassed state approval. The procedural schedule has been paused. NM AG Raúl Torrez and a local nonprofit are also challenging the PIPE transaction.
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