Allete enters agreement to be acquired by a partnership led by canada pension plan investment board and global infrastructure partners to advance ‘sustainability-in-action' strategy

Duluth, minn.--(business wire)--allete, inc. (nyse: ale) and a partnership led by canada pension plan investment board (“cpp investments”) and global infrastructure partners (“gip”), (the “partnership”), today jointly announced that they have entered into a definitive agreement under which the partnership will acquire allete for $67.00 per share in cash, or $6.2 billion including the assumption of debt. allete is a leading energy company and provider of safe, reliable, and competitively priced.
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