Acquiring Company
Canada Pension Plan Investment Board
Acquired Company
ALLETE
Financial Services
Description
Canada Pension Plan Investment Board plans to acquire ALLETE, Minnesota Power's parent company, for $6.2 billion. Public hearings are being held to discuss the proposed acquisition, with approval required from the Minnesota Public Utilities Commission. ALLETE has assured that electricity rates will not be affected and will continue to be locally managed. Opponents of the acquisition express concerns over potential risks for ratepayers and the future of clean energy investments.
M&A Insights
Based on deal dataIntegration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed