Blackstone/TXNM Energy: PE Firm Likely Faces Tough Choice of Accepting Recommended Penalty or Extending Regulatory Process With Appeal

Private equity firm Blackstone (BX) probably faces a tough choice in its $11.5 billion bid for New Mexico power company TXNM Energy (TXNM): accept a utility regulator’s likely fine and order to unwind a $400 million stock purchase, or appeal that decision, extending the regulatory process into next year and maybe beyond

Published on Jun 10, 2026

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