Regulators approve disputed $6.2B takeover of Minnesota Power by investment group [Yahoo! Finance Canada]
Allete, Inc. (ALE)
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Source: Yahoo! Finance Canada
In voting for the takeover of Duluth-based Minnesota, the five members of the Minnesota Public Utilities Commission said they believe the conditions imposed on the deal will protect the public interest and shield customers from rate increases. Opponents warned that the private equity group is only interested in squeezing bigger profits from regular ratepayers. The approval came as electricity bills are rising fast across the U.S., and growing evidence suggests the bills of some residential customers are increasing to subsidize the rapid build-out of power plants and power lines to supply the gargantuan energy needs of Big Tech's data centers and the boom in artificial intelligence. Raising the stakes is the potential that Google could build a data center in Minnesota Power's territory in the northern part of the state, a lucrative prospect for the utility's owner. Opponents also expressed fear that the sale would encourage more such deals across the U.S. Under the planned buy
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News
- New Energy Equity's Lift As We Climb Foundation Raises $143,000 for Let's Share the Sun Foundation at 4th Annual Charity Golf TournamentPR Newswire
- Allete (NYSE:ALE) had its "buy (b-)" rating reaffirmed by analysts at <a style="font-weight:bold" href="https://weissratings.com/">Weiss Ratings</a>.MarketBeat
- Allete (NYSE:ALE) had its "buy (b-)" rating reaffirmed by analysts at <a style="font-weight:bold" href="https://weissratings.com/">Weiss Ratings</a>.MarketBeat
- Minnesotans may have to wait a month for energy assistance after government shutdown [CBS News]CBS News
- ALLETE (ALE) Profit Margin Drop Challenges Utilities' “Defensive” Narrative [Yahoo! Finance]Yahoo! Finance
ALE
Sec Filings
- 10/31/25 - Form 10-Q
- 10/6/25 - Form 8-K
- 10/3/25 - Form 8-K
- ALE's page on the SEC website