Science & Environment
US power utility Allete explores sale | Reuters News…
DealsEnergy
05 December 2023, 10:19 am 1 minute
Reuters was first to report that Allete Inc (ALE.N), 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.
Market Impact
Allete shares jumped 9% on the news to $61.22 in afternoon trading in New York on Tuesday, giving the company a market capitalization of about $3.5 billion. Allete also had net debt of about $1.7 billion as of the end of September.
Article Tags
Topics of Interest: DealsEnergy
Type: Reuters Best
Sectors: Commodities & EnergyMergers & Acquisition
Regions: Americas
Countries: United States
Win Types: Speed
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Important Regional Story
