Albuquerque, NM (KKOB) — The Public Service Company of New Mexico is getting a new owner. Albuquerque-based TXNM Energy has agreed to a stock and debt buyout of $11.5-Billion, handing the parent company of PNM over to Blackstone Infrastructure of New York City. Stockholders of TXNM will be paid $61.25 per share, which is 16-percent above Friday’s closing price. The deal still faces regulatory approval, which can take more than a year. PNM could expect to see increased investment from Blackstone once the deal is finalized.
