News ClipSanta Fe New Mexican·Albuquerque, Sandoval County, NM
PNM, Blackstone execs defend stock sale before New Mexico regulators$
The New Mexico Public Regulation Commission is investigating whether Blackstone's $400 million stock purchase of TXNM Energy Inc. violated state law during its proposed acquisition of Public Service Company of New Mexico (PNM). Executives from Blackstone and TXNM defended the stock sale, while advocacy groups and the state Department of Justice urged regulators to void the transaction. Protesters in Albuquerque cited concerns about potential rate increases and Blackstone's data center development interests.
5/1/2026