---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-25-045482"
form_type: "8-K"
ticker: null
cik: "0000066756"
company_name: "ALLETE INC"
filed_at: "2025-12-15T23:59:59+00:00"
generated_at: "2026-05-16T13:17:10.354088+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 1.0
calibrated_materiality_score: 1.0
confidence: "high"
source: SEC EDGAR
---

# ALLETE completes acquisition by CPP Investments and GIP for $67.00 per share in cash

## Summary
- Shareholders to receive $67.00 per share in cash shortly after closing; delisted from NYSE.
- CPP Investments and GIP commit ~$200M in benefits including one-year rate freeze, $50M rate credits.
- ALLETE remains locally managed in Duluth, MN with current leadership; board to be majority independent with regional members.
- Stub period dividend of $0.008 per share declared for holders who receive merger consideration, payable 5 business days after closing.
- All directors except Goldfarb, Nestegard, Nick, Owen resigned at closing; new board includes 14 members.

## SEC filing metadata
- accession: 0001140361-25-045482
- form_type: 8-K
- cik: 0000066756
- company_name: ALLETE INC
- filed_at: 2025-12-15T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 1.0
- calibrated_materiality_score: 1.0
- confidence: high
- sec_items: 2.01, 3.01, 3.03, 5.01, 5.02, 5.03, 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/66756/000114036125045482/0001140361-25-045482-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/66756/000114036125045482/ef20060780_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-25-045482
- JSON: https://secwatch.observer/filing/0001140361-25-045482.json
- Plain text: https://secwatch.observer/filing/0001140361-25-045482.txt

## Source-grounded claims
- claim_id: 024e58c64e2eede3d8341359bf5fd4961058d6a6
  claim: ALLETE INC received a nyse delisting notice notice regarding other.
  evidence_excerpt: December 15, 2025 SECTION 3 – SECURITIES AND TRADING MARKETS Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. The information set forth under the Introductory Note of this Current Report on Form 8-K is incorporated by reference in this
  evidence_url: https://www.sec.gov/Archives/edgar/data/66756/000114036125045482/0001140361-25-045482-index.htm
- claim_id: d04d088f9da969ce634da6f84c02befb9cb9f80a
  claim: ALLETE INC: Amended and restated bylaws in their entirety in connection with merger.
  evidence_excerpt: In accordance with the terms of the Merger Agreement, at the Effective Time, the bylaws of the Company were amended and restated in their entirety
  evidence_url: https://www.sec.gov/Archives/edgar/data/66756/000114036125045482/0001140361-25-045482-index.htm
- claim_id: db023471f033756e77a82f98320bb89c386267d1
  claim: ALLETE INC: Amended and restated articles of incorporation in their entirety in connection with merger.
  evidence_excerpt: In accordance with the terms of the Merger Agreement, at the Effective Time, the Amended and Restated Articles of Incorporation of the Company were amended and restated in their entirety
  evidence_url: https://www.sec.gov/Archives/edgar/data/66756/000114036125045482/0001140361-25-045482-index.htm
- claim_id: f4ec16dfe495f4588f2b028046e8f7a1aece0eba
  claim: ALLETE INC underwent a change of control involving Canada Pension Plan Investment Board (CPP Investments) and Global Infrastructure Partners (GIP) for $67.00 per share in cash (closed 2025-12-15).
  evidence_excerpt: rights under Minnesota law in respect of such shares and any shares of Common Stock held by an affiliate of Parent) was cancelled and converted into the right to receive $67.00 in cash, without interest (the “Merger Consideration”). In addition, at the Effective Time, each restricted stock unit with respect to Common Stock subject to time-based vesting
  evidence_url: https://www.sec.gov/Archives/edgar/data/66756/000114036125045482/0001140361-25-045482-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.