Company financial reports, press releases

Allete Goes Private in $6.2 Billion Deal Led by CPP and GIP

May 6, 2024, 12:15 PM

Allete, a U.S.-based clean-energy utility, has agreed to a privatization deal valued at $6.2 billion. The acquisition is led by Global Infrastructure Partners and the Canada Pension Plan Investment Board. The agreed purchase price is $67 per share. Allete's dividends are expected to continue post-acquisition.