10:27 AM EDT, 03/11/2025 (MT Newswires) -- (Updates with additional details in the second and third paragraphs and recent stock movement in the last paragraph.)

TXNM Energy ( TXNM ) is considering a sale after getting takeover interest from a potential buyer, Bloomberg reported Monday evening, citing people familiar with the matter.

The company has hired an adviser to help it assess its options, the report said, adding that deliberations are at an early stage and that it may remain independent.

The holding company for utilities in Texas and New Mexico is currently valued at $10.3 billion including debt, Bloomberg reported, citing data it compiled.

TXNM did not immediately reply to a request for comment from MT Newswires.

The company's shares were rising nearly 8% in recent Tuesday trading.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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