New Mexico regulators order Blackstone and PNM’s parent company to undo $400M stock transaction

New Mexico regulators order Blackstone and PNM's parent company to undo $400M stock transaction

NEW MEXICO (KRQE) – The proposed acquisition of New Mexico's largest electric utility has hit a bump in the road. State regulators have ruled that a stock deal between PNM and private equity firm Blackstone broke state law.

Source: KRQE

Indexed: Sat, 04 Jul 2026 15:03:46 UTC

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