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. PNM customers filled a Public Regulation Commission hearing voicing their opposition to the merger. Thursday’s decision does not affect […]
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New Mexico regulators order Blackstone and PNM's parent company to undo $400M stock transaction
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