TXNM Energy gets FERC approval for $11.5 billion Blackstone deal

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)