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Each share of Allete stock will be purchased by the consortium for $67 in cash consideration.
Closing of the deal is anticipated for mid-2025. Allete will thereafter turn into a private business.
Allete's main division, Minnesota Power, is serving 150,000 people, 14 municipalities, and some of the biggest industrial companies in the country.
Allete was reportedly considering selling in December 2024.
source: cnn.com
Closing of the deal is anticipated for mid-2025. Allete will thereafter turn into a private business.
Allete's main division, Minnesota Power, is serving 150,000 people, 14 municipalities, and some of the biggest industrial companies in the country.
Allete was reportedly considering selling in December 2024.
source: cnn.com
