Blackstone Infrastructure and TXNM Energy extended their merger termination date to 31 May 2027, giving parties extra time to secure remaining regulatory approvals. The extension keeps alive one of the larger U.S. utility take‑privates, under which Blackstone Infrastructure would acquire all of TXNM Energy’s outstanding common shares. Many approvals are already in place: the Public Utility Commission of Texas, the Federal Energy Regulatory Commission, the Federal Communications Commission, and overwhelming shareholder support in August 2025.

Remaining sign‑offs come from the U.S. Nuclear Regulatory Commission and the New Mexico Public Regulation Commission, the latter being the more complex hurdle.\n\nTXNM is preparing a compliance report on a 2025 stock transaction that the regulator voided; the parties plan to file it before the end of July 2026, after which the commission is expected to set a new procedural schedule. Subject to these approvals, TXNM estimates the deal could close in the first half of 2027. To address the commission’s concerns, TXNM has secured a $400m term loan to unwind the voided transaction and plans to issue common stock to repay the facility, providing long‑duration capital for asset replacement and grid expansion that serves 800,000 homes and businesses.\n\nSean Klimczak, Global Head of Blackstone Infrastructure, framed the extension as evidence of the firm’s staying power in a protracted regulatory process, emphasizing commitment to TXNM Energy’s growth and New Mexico’s clean energy goals.

Don Tarry, President and CEO of TXNM Energy, said the partnership is critical to the company’s long‑term ability to provide clean, affordable, and reliable power, and he looks forward to demonstrating how the deal will strengthen the grid and support long‑term investment.