Blackstone (BX.US) plans to acquire TXNM Energy (TXNM.US) for $11.5 billion.

According to the Securities Times Financial APP, on Monday before the market opened, the stock price of TXNM Energy (TXNM.US) surged by more than 9%. Earlier, the company announced that Blackstone (BX.US) Infrastructure Fund had agreed to acquire the utility company at a cash price of $61.25 per share, with a total enterprise value of $11.5 billion (including net debt), confirming previous market acquisition rumors.