ALLETE Enters Agreement To Be Acquired By A Partnership Led By Canada Pension Plan Investment Board And Global Infrastructure Partners For $67/Share In Cash; Acquisition Expected To Close In Mid 2025
Portfolio Pulse from Benzinga Newsdesk
ALLETE has agreed to be acquired by a partnership led by Canada Pension Plan Investment Board and Global Infrastructure Partners for $67 per share in cash. The acquisition is expected to close in mid 2025.
May 06, 2024 | 11:05 am
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ALLETE is being acquired for $67 per share in cash, a deal led by Canada Pension Plan Investment Board and Global Infrastructure Partners, expected to close by mid 2025.
The acquisition announcement typically leads to a positive short-term impact on the stock price of the company being acquired. The price offered per share often becomes a target for the stock's trading price leading up to the acquisition's completion. Given the cash offer of $67 per share, this is likely to set a floor for the stock's price in the short term, assuming the market views the deal's completion as highly probable.
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