May 20, 2025

State coalition appeals BlackRock’s authorization to acquire utility securities

Nineteen states and two organizations challenge FERC’s decision, claiming BlackRock’s participation in climate initiatives violate its passive investor status.

Order Contested: Nineteen states, the Arizona Corporation Commission and Consumers’ Research challenged FERC's April 17 order extending BlackRock's blanket authorization to acquire voting securities in U.S. traded utilities for three years, according to a May 19 filing. The coalition of Republican-leaning states have also called for an evidentiary hearing to be held on the proceeding. Climate Concerns: The petitioners argue ...

Details:

Filing Date: May 19, 2025

Docket Numbers:

EC25-12

Short Summary:

Nineteen states, the Arizona Corporation Commission and Consumers’ Research challenged FERC’s April 17 order extending BlackRock’s blanket authorization to acquire voting securities in U.S. traded utilities for three years, according to a May 19 filing. The coalition of Republican-leaning states have also called for an evidentiary hearing to be held on the proceeding.

Impact Level:

Categories:

Dealmaking & Transactions

Tags: Acquisition of Securities, Rehearing Request

Entities: BlackRock Inc.

Markets:

Regions:

States:

Regulators: FERC

Courts:

Documents:

Acquisition of Securities – Application – Order Approving – Rehearing Request