Blackstone is a massive private equity firm worth $176B, known for extracting value fast and leaving companies in bankruptcy.
Now they’re trying to buy PNM, but it’s not a done deal.
PNM’s parent company has filed an application with the New Mexico Public Regulation Commission for approval of Blackstone’s $11.5B takeover. That kicked off a formal review process, including public hearings scheduled for May 4–15, 2026 (via Zoom).
That means the public can weigh in and regulators haven’t signed off yet.
Stay tuned to 505OMATIC for updates, timelines, and ways to take action.
Official PRC customer notice & hearing info