Blackstone buys TX NM Energy for $11.5 billion, including debt

Blackstone Group buys American TXU Energy Inc., operating in the energy supply sector, for $11.5 billion, including debt.

According to a press release from Blackstone, its division, Blackstone Infrastructure, will pay $61.25 per share of TXNM, which provides for a premium of 23% to the average price of the this securities 30 days before the announcement of the planned transaction and a premium of 15.8% to the market closing price on Friday.

TXNM shares jumped 9.2% in preliminary trading on Monday, to $57.75. Since the beginning of this year, their value has increased by 7.6%.

The deal was supported by the TXNM board of Directors, but requires the approval of the company‘s shareholders as well as regulatory authorities. The parties plan to close it in the second half of 2026. TXNM is a holding company for energy companies providing electricity to more than 800,000 homes and businesses in the states of Texas and New Mexico.