MILWAUKEE, May 7, 2024 /PRNewswire/ -- Ademi LLP is investigating ALLETE (NYSE: ALE) for possible breaches of fiduciary duty and other violations of law in its going private transaction with CPP Investments and Global Infrastructure Partners.
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In the transaction, ALLETE stockholders will receive only $67.00 per share in cash, or $6.2 billion including the assumption of debt. The transaction agreement unreasonably limits competing transactions for ALLETE by imposing a significant penalty if ALLETE accepts a competing bid. ALLETE insiders will receive substantial benefits as part of change of control arrangements.
We are investigating the conduct of ALLETE's board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.
If you own ALLETE common stock and wish to obtain additional information, please contact Guri Ademi either at [email protected] or toll-free: 866-264-3995, or
We specialize in shareholder litigation involving buyouts, mergers, and individual shareholder rights throughout the country. For more information, please feel free to call us. Attorney advertising. Prior results do not guarantee similar outcomes.
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