Blackstone/TXNM: State Supreme Court Decision in Another Utility Merger that Could Weaken Public Interest Standard Could Further Delay Deal

Private equity firm Blackstone’s (BX) $11.5 billion acquisition of utility TXNM Energy (TXNM) could see a relaxed review standard and further delays after the New Mexico Supreme Court decides to what extent the state’s utility regulator must consider the public interest standard in its utility merger review—a question raised in a different merger case