BlackRock/Allete: PE Firm’s Attempted Utility Takeover Generates Opposition in Minnesota

Published on Jun 16, 2025

A $6.2 billion deal that would hand BlackRock (BLK) control of Allete’s (ALE) Minnesota Power, the second-largest electric utility in the state, has prompted concerns that the private equity giant’s drive for returns would lead to higher rates, and less reliable and safe service…

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