Allete takeover will get a recommendation from Minnesota PUC's ALJ by July 15

seekingalpha09-20

Allete's (NYSE:ALE) planned $6.2 billion sale to a partnership led by Canada Pension Plan Investment Board and Global Infrastructure Partners is set to get a recommendation from Minnesota's Public ...

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The Minnesota PUC's administrative law judge will give a recommendation to support or go against the deal to the regulator's five commissioners no later than July 15, 2025, according to a webcast of a meeting before the state's PUC on Thursday.  Representatives for Minnesota's Attorney General's office and representatives for the companies said they would be amenable to a settlement if one could be worked out at some point.  CPP Investments and GIP announced in May that they would acquire Allete  for $67/share in cash, or $6.2B including debt. Shareholder approved the deal last month.  The deal remains subject to regulatory approvals from the Minnesota PUC, the Public Service Commission of Wisconsin, and the Federal Energy Regulatory Commission.","collect":0,"end_time":0,"defaultTopTitle":"seekingalpha.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4081":"电力公用事业","ALE":"阿里特","ALJ":"阿龙美国能源公司"},"translate_title":"Allete收购将于7月15日之前获得明尼苏达州PUC ALJ的建议","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"ALE":1,"ALJ":1},"content_text":"Allete's (NYSE:ALE) planned $6.2 billion sale to a partnership led by Canada Pension Plan Investment Board and Global Infrastructure Partners is set to get a recommendation from Minnesota's Public Utilities Commission no later than mid-July of next year. The Minnesota PUC's administrative law judge will give a recommendation to support or go against the deal to the regulator's five commissioners no later than July 15, 2025, according to a webcast of a meeting before the state's PUC on Thursday.  Representatives for Minnesota's Attorney General's office and representatives for the companies said they would be amenable to a settlement if one could be worked out at some point.  CPP Investments and GIP announced in May that they would acquire Allete (ALE) for $67/share in cash, or $6.2B including debt. Shareholder approved the deal last month.  The deal remains subject to regulatory approvals from the Minnesota PUC, the Public Service Commission of Wisconsin, and the Federal Energy Regulatory Commission. Allete (ALE) originally said it expected to complete the transaction in mid-2025. Shares of Allete (ALE) ticked higher by 0.3% on Thursday.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.28.3","shortVersion":"4.28.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2468507093"}