After two decades of little change, power demand in the US is expanding on the back of the construction of new data centers and factories and the overall electrification of the economy.
Blackstone Infrastructure agreed to acquire New Mexico utility owner TXNM Energy Inc for about US$5.7 billion ($7.38 billion), the latest in a flurry of power deals as US electricity consumption grows.
TXNM investors will get US$61.25 a share in cash, the company said Monday in a statement. Blackstone’s talks to acquire TXNM, and discussions between KKR & Co and the power company, were first reported by Bloomberg earlier this month.
