PNM Acquisition Hit by State Ruling

Big trouble for Blackstone’s PNM buyout: state regulators just ruled a key stock sale tied to the deal illegal, demanding it be reversed to protect customers from the fallout. TXNM and Blackstone are pushing back, but regulators insist the sale must be undone — and the state commission still needs to vote. The federal green light from February hasn’t erased this latest hurdle, leaving the future of the deal uncertain as PNM waits and Blackstone stays silent. Support the show:Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/97e37ed540f91449