Federal energy regulators have cleared the way for a massive utility acquisition, announcing Friday their approval of Blackstone Infrastructure’s purchase of TXNM Energy.
The investment firm struck the agreement to buy the utility company last year in a deal valued at $11.5 billion when debt is included.
According to TXNM Energy, the Federal Energy Regulatory Commission determined there is “no evidence that either state or federal regulation will be impaired by the proposed transaction” and confirmed the deal will not create “an adverse effect on rates.”
The company also noted that the mandatory waiting period required under federal antitrust law has now run out, clearing another regulatory hurdle for the transaction.
