Why TXNM Energy Inc. (TXNM) Surged Today

We recently published a list of 10 Stocks That Stole the Show Today. In this article, we are going to take a look at where TXNM Energy Inc. (NYSE:TXNM) stands against other stocks that stole the show today.

Ten mid-cap companies from diverse sectors stood out on Monday, outperforming the lackluster performance of major indices, thanks to a flurry of corporate developments that sparked investor appetite.

While the firms boasted between 5 and 14 percent gains, the Dow Jones rose by only 0.32 percent, while the S&P 500 and the tech-heavy Nasdaq each inched up by 0.09 percent and 0.02 percent, respectively.

In this article, we list the names of the top-performing stocks and detail the reasons behind their gains.

To come up with the list, we considered only the stocks with a $2 billion market capitalization and $5 million in trading volume.

TXNM Energy, Inc. (NYSE:TXNM)

TXNM Energy saw its share prices rally by 6.98 percent to close at $56.57 apiece following news that it is set to be acquired by one of the largest investment management companies, Blackstone Inc., for $11.5 billion.

In a statement, Blackstone said its infrastructure arm inked an agreement with TXNM Energy, Inc. (NYSE:TXNM) to acquire its shares for $61.25 apiece.

The price represented an 8-percent upside from its closing price on Monday, as well as a 23-percent premium to its 30-day volume-weighted average price (VWAP) as of March 5, 2025, the day prior to an article reporting a developing acquisition for TXNM Energy.

According to Blackstone, the transaction will be funded through equity and assumption of existing debt, and no incremental debt will be issued as a result of the transaction.

The transaction is expected to be closed in the second half of 2026, subject to regulatory approvals and customary closing conditions.

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Disclosure: None. This article is originally published at Insider Monkey.