# PNM and Blackstone Face Regulatory Fallout | Santa Fe News

Page: https://stenobird.com/podcast/santa-fe-news-today-2-min-news-the-daily-news-now-7599076/pnm-and-blackstone-face-regulatory-fallout-santa-fe-news
Text version: https://stenobird.com/podcast/santa-fe-news-today-2-min-news-the-daily-news-now-7599076/pnm-and-blackstone-face-regulatory-fallout-santa-fe-news.md
Podcast: [Santa Fe News Today | 2 Min News | The Daily News Now!](https://stenobird.com/podcast/santa-fe-news-today-2-min-news-the-daily-news-now-7599076)
Published: 2026-07-03T02:12:12+00:00
Episode link: https://api.fastcast.ai/audio/f179fadb-5e04-4f29-a46e-a5da542d89f7.mp3
Audio file: https://api.fastcast.ai/audio/f179fadb-5e04-4f29-a46e-a5da542d89f7.mp3
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Duration seconds: 108

## Resource

New Mexico regulators just hit PNM and Blackstone with a major blow, nullifying a $400 million stock deal and slapping each with a $100,000 fine for skipping proper approval. The move stems from Blackstone’s subsidiaries buying TXNM Energy shares in July 2025, seen as a stealth setup for Blackstone’s planned PNM takeover. While the merger isn’t canceled, this ruling forces both companies to unwind the deal within 45 days — a critical hurdle that could delay or derail the merger and reshape New Mexico’s energy future. Listen in comfort: Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn Advertise on DNN: advertise@thednn.ai This is an automated, high-level news summary based on public reporting. Report issues to feedback@thednn.ai. View sources & latest updates: https://sources.thednn.ai/cff9c3aabf1a1fef

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## Transcript

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