Allete announces completion of acquisition by CPP, GIP

7 hours ago 6

TipRanks

Tue, December 16, 2025 astatine 8:55 AM CST 1 min read

ALLETE (ALE) announced the completion of its acquisition by Canada Pension Plan Investment Board and Global Infrastructure Partners, pursuing the last written bid and unanimous support by the Minnesota Public Utilities Commission. As a effect of the acquisition, ALLETE, CPP Investments and GIP volition present astir $200M successful benefits to Minnesota Power customers and communities, representing a historical committedness to the company’s customers. These benefits see a one-year basal complaint freeze, $50M successful complaint credits, and further enactment for vigor affordability and innovation. Under the presumption of the merger agreement, CPP Investments and GIP acquired each the outstanding communal shares of ALLETE and ALLETE communal shareholders volition person $67 per stock successful currency soon aft closing. Trading of ALLETE’S banal was suspended anterior to the opening of trading connected the New York Stock Exchange today.

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