MergerApr 28, 2026, 05:12 PM
TXNM Energy: Blackstone Merger Update; 2026 AGM on June 10
AI Summary
TXNM Energy Inc. filed its definitive proxy statement for the 2026 Annual Meeting of Shareholders on June 10, 2026. The filing provides an update on the proposed merger with Blackstone Infrastructure, which was approved by shareholders in August 2025 and is expected to close in H2 2026, pending remaining regulatory approvals. Shareholders will vote on director elections, auditor ratification, and executive compensation, while the company also highlighted 2025 earnings of $2.33 per diluted share and a dividend increase.
Key Highlights
- Proposed merger with Blackstone Infrastructure expected to close in H2 2026.
- Shareholders approved Blackstone merger on August 28, 2025.
- PUCT and FERC approved TXNM's acquisition by Blackstone Infrastructure in Feb 2026.
- 2026 Annual Meeting of Shareholders scheduled for June 10, 2026, at 9:00 a.m. CT.
- Record date for voting is April 21, 2026.
- Proposals include electing directors, ratifying KPMG LLP as auditor, and advisory vote on NEO compensation.
- Delivered ongoing earnings of $2.33 per diluted share in 2025.
- Increased annual dividend payment by $0.06 to $1.69 per share for 2026.