Allete gains as Minnesota PUC approves take private deal (ALE:NYSE)

Allete (NYSE:ALE) edged higher by 0.7% after the Minnesota Public Utilities Commission approved its planned sale to a partnership led by Canada Pension Plan Investment Board and BlackRock's (BLK) Global Infrastructure Partners.The Minnesota PUC commissioners' approved the transaction unanimously in a vote on Friday. CPP Investments and GIP announced in May 2024 that they would acquire Allete (NYSE:ALE) for $67/share in cash, or $6.2B including debt. ...