en.Wedoany.com Reported - TXNM Energy and Blackstone Infrastructure have extended the terms of their merger agreement, pushing the termination date to May 31, 2027, to allow more time for regulatory approvals.

Under the agreement, Blackstone Infrastructure will acquire all outstanding common shares of TXNM Energy. The transaction has received approvals from the Public Utility Commission of Texas (PUCT), the Federal Energy Regulatory Commission (FERC), and the Federal Communications Commission (FCC), and has satisfied the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act. TXNM Energy shareholders voted overwhelmingly in favor of the merger in August 2025.

The transaction is currently pending regulatory approvals from the Nuclear Regulatory Commission and the New Mexico Public Regulation Commission (NMPRC). The NMPRC procedural schedule has been suspended pending the submission and review of a report demonstrating compliance with a commission order regarding the 2025 stock transaction between TXNM Energy and Blackstone Infrastructure.

Don Tarry, President and CEO of TXNM Energy, stated that the company remains committed to advancing the proposed partnership with Blackstone Infrastructure, which is critical to TXNM Energy's long-term ability to provide clean, affordable, and reliable power to its customers. He thanked the NMPRC for its careful review of the case and looks forward to further demonstrating that this partnership will strengthen the grid, support long-term investments, and deliver tangible benefits to customers and communities in New Mexico and Texas.

Sean Klimczak, Global Head of Blackstone Infrastructure, said the extension of the merger agreement demonstrates the company's commitment to continuing collaboration with stakeholders while showcasing the significant benefits of the proposed merger. Blackstone Infrastructure remains focused on supporting TXNM Energy's future growth plans and New Mexico's ambitious clean and affordable energy goals.

Additionally, TXNM Energy has entered into a $400 million term loan to unwind the 2025 stock transaction that was invalidated. TXNM Energy plans to repay the loan through the issuance of common stock.

To continue advancing the NMPRC regulatory approval process, the joint applicants plan to submit a compliance report to the NMPRC by the end of July 2026. After the procedural schedule is reset, the transaction is expected to close in the first half of 2027.