(RTTNews) - TXNM Energy Inc. (YXNM) on Friday said the U.S. Federal Energy Regulatory Commission or FERC approved the company's acquisition by Blackstone Infrastructure.
Last year, Blackstone agreed to acquire TXNM Energy in a transaction with an enterprise value of $11.5 billion or $61.25 per share in cash.
FERC concluded that the proposed merger will not impair state or federal regulations, nor have an adverse impact on rates, the company specified.
The acquisition has received federal regulatory approval from the Federal Communications Commission (FCC), and the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act has expired, the company added.
The deal still requires clearance from the Nuclear Regulatory Commission and the New Mexico Public Regulation Commission, the company noted.
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