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InsideArbitrage Potential Deal Alert: US Power Utility Allete (ALE) Explores Sale

  • December 11, 2023


StockAllete Inc.SymbolALE
Date Announced12/05/2023Source Reuters
TypeNews Report
Date of Confirmation: 05/06/2024Price at Confirmation: $64.27
Potential Profit: 5.78%Annualized Profit: 13.78%

According to Reuters, Allete Inc. (ALE), a U.S. power utility and renewable energy developer that has a market value of about $5.2 billion, including debt, is exploring a sale of the company.

Allete Inc. Investor Relations


May 3, 2024: According to Financial Times, US private capital group Global Infrastructure Partners and Canada’s largest pension fund are nearing a deal to buy Allete, (ALE) for about $5 billion.

Disclaimer: Our intent with this section of the website is to present potential deals that appear to be in the pipeline. These potential deals are ones where i) the company has indicated that it is "seeking strategic alternatives", ii) there has been an unsolicited bid for a company as mentioned in a press release by the company or iii) news about the deal has been published by a leading news organization like The Wall Street Journal, The New York Times, Bloomberg, Financial Times, The Washington Post, Reuters and The Associated Press. As best as possible we will try to avoid baseless rumors. There is a high probability that many of these potential deals may not materialize and if they do, the terms of the deal may be different from what was initially reported. Please do your own due diligence before buying or selling any securities mentioned on this website. We do not warrant the completeness or accuracy of the content or data provided.