BlackRock's infrastructure play gets a boost as Minnesota approves buyout

Core Insights - Minnesota power regulators have approved a $6.2 billion acquisition plan involving a BlackRock unit and the Canada Pension Plan to purchase utility Allete, which is the parent company of Minnesota Power [1] Group 1: Acquisition Details - The approved plan is valued at $6.2 billion, indicating a significant investment in the utility sector [1] - The acquisition involves a partnership between a BlackRock unit and the Canada Pension Plan, highlighting the interest of institutional investors in utility assets [1] Group 2: Regulatory Considerations - Recent modifications made by the parties involved in the acquisition are expected to address concerns related to utility rates and investments in clean power [1] - The approval from Minnesota power regulators suggests a positive outlook for the transaction, contingent on the adjustments made to meet regulatory expectations [1]