{"schema_version":"secwatch.filing_event.v1","accession":"0000066756-24-000034","form_type":"8-K","ticker":null,"cik":"0000066756","company_name":"ALLETE INC","filed_at":"2024-05-06T23:59:59+00:00","discovered_at":"2026-05-14T18:03:21.699133+00:00","generated_at":"2026-06-02T22:35:06.697298+00:00","sec_items":["1.01","7.01","9.01"],"event_type":"m_and_a","sentiment":"positive","materiality_score":1.0,"calibrated_materiality_score":1.0,"confidence":"high","headline":"ALLETE to be acquired by CPP Investments/GIP for $67.00/share ($6.2B enterprise value)","bullets":["Shareholders will receive $67.00 per share in cash; enterprise value ~$6.2B including net debt.","Premium of 19.1% over ALLETE's closing price on Dec 4, 2023 (prior to sale speculation).","Deal expected to close in mid-2025, subject to shareholder vote and regulatory approvals (MPUC, PSCW, FERC, CFIUS, HSR).","ALLETE will remain locally managed, HQ in Duluth; CEO Bethany Owen continues; workforce and compensation commitments.","Termination fees: $212M/$164M payable by Parent (certain circumstances), $116M payable by ALLETE."],"urls":{"canonical":"https://secwatch.observer/filing/0000066756-24-000034","json":"https://secwatch.observer/filing/0000066756-24-000034.json","markdown":"https://secwatch.observer/filing/0000066756-24-000034.md","text":"https://secwatch.observer/filing/0000066756-24-000034.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/66756/000006675624000034/0000066756-24-000034-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/66756/000006675624000034/ale-20240505.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-02T22:35:06.697298+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"334093cb71a96cfaf7ca2d1198f9468d113f74a3","claim":"ALLETE INC entered into Agreement and Plan of Merger with Alloy Parent LLC and Alloy Merger Sub LLC valued at Merger consideration of $67.00 per share in cash, aggregate equity value approximately $3.9 billion (effective 2024-05-05).","evidence_excerpt":"On May 5, 2024, ALLETE, Inc. (the “Company”) entered into an Agreement and Plan of Merger (the “Merger Agreement”), by and among the Company, Alloy Parent LLC, a Delaware limited liability company (“Parent”), and Alloy Merger Sub LLC, a Delaware limited liability company and wholly owned subsidiary of Parent (“Merger Sub”).","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/66756/000006675624000034/0000066756-24-000034-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"merger"},{"label":"Counterparty","value":"Alloy Parent LLC and Alloy Merger Sub LLC"},{"label":"Value","value":"Merger consideration of $67.00 per share in cash, aggregate equity value approximately $3.9 billion"},{"label":"Effective","value":"2024-05-05"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}