Feb 20 (Reuters) – TXNM Energy on Friday said the U.S. Federal Energy Regulatory Commission (FERC) had authorized the company’s acquisition by Blackstone Infrastructure. Last year, Blackstone agreed to acquire the utility company in an $11.5 billion deal, including debt. FERC concluded that there is “no evidence that either state or federal regulation will be […]
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TXNM Energy gets FERC approval for $11.5 billion Blackstone deal
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Feb 20 (Reuters) – TXNM Energy on Friday said the U.S. Federal Energy Regulatory Commission (FERC) had authorized the company’s acquisition by Blackstone Infrastructure.
Last year, Blackstone agreed to acquire the utility company in an $11.5 billion deal, including debt.
FERC concluded that there is “no evidence that either state or federal regulation will be impaired by the proposed transaction” and that the transaction will not have “an adverse effect on rates,” the company said.
It added that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act has expired.
(Reporting by Sumit Saha in Bengaluru; Editing by Maju Samuel)