CPP Investments and GIP to take Allete private in $6.2bn deal [Yahoo! Finance]
Allete, Inc. (ALE)
Last allete, inc. earnings: 2/13 06:30 am
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US:NYSE Investor Relations:
investor.allete.com/investor-relations
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Source: Yahoo! Finance
The acquisition terms stipulate a cash payment of $67 per share to take Allete private, a 19.1% premium over the company's closing share price as of 4 December 2023. Allete's board of directors has unanimously approved the transaction, which is set for completion in mid-2025, subject to shareholder approval and regulatory consents. Allete will withdraw from the New York Stock Exchange and revert to private ownership. Allete chair, president and CEO Bethany Owen stated: “Through this transaction with CPP Investments and GIP, we will have access to the capital we need while keeping our customers, communities and co-workers at the forefront of all that we do, with continuity of our day-to-day operations, strategy and shared purpose and values. “CPP Investments and GIP have a successful track record of long-term partnerships with infrastructure businesses, and they recognise the important role our ALLETE companies serve in our communities and our nation's energy future. Together,
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ALE
News
- World's largest asset manager behind Duluth energy company Allete's $6.2B sale [Yahoo! Finance]Yahoo! Finance
- ALLETE, Inc. (NYSE: ALE) had its price target raised by analysts at Mizuho from $57.00 to $67.00. They now have a "neutral" rating on the stock.MarketBeat
- ALLETE, Inc. (NYSE: ALE) is now covered by analysts at StockNews.com. They set a "hold" rating on the stock.MarketBeat
- Lifshitz Law PLLC Announces Investigations of ALE, PRFT, UNIT, and AGBAAccesswire
- PUC wants buyers of Duluth energy company Allete to clarify local workforce commitment [Yahoo! Finance]Yahoo! Finance
ALE
Earnings
- 5/9/24 - Miss
ALE
Sec Filings
- 5/17/24 - Form DEFA14A
- 5/9/24 - Form DEFA14A
- 5/9/24 - Form 10-Q
- ALE's page on the SEC website