In May of 2024, ALLETE entered into an agreement to be acquired and brought private in a cash transaction of $67 dollars per share.
ALLETE received shareholder approval, all necessary federal and state regulatory approvals, and on December 15, 2025, closed on the Acquisition. For more information please see our related press release.
If you have additional questions, please review the FAQs below.
In May 2024, ALLETE entered into an agreement to be acquired and taken private in a $67 per share all cash transaction. ALLETE received all necessary federal and state approvals and on December 15, 2025, closed on the Acquisition. All shareholders received $67 per share in cash.
If you did not receive your payout of $67 per share, please reach out to our paying agent, EQ, at 800-535-3056. There may be additional steps you need to take to receive the payout.
Note: Shareholders who held ALLETE stock through a broker would need to contact their broker for questions regarding their ALLETE stock payout.
If you have ALLETE stock that was purchased in 2011 or later, you should have automatically received your cost basis information on the Form 1099-B that was mailed to you for tax purposes in February 2026.
For shares purchased prior to 2011, you will need to utilize your year-end statements to calculate the cost basis of your shares purchased prior to 2011. If you do not have your year-end statements, you may request them with this online form or by calling 218-355-3114 and choosing option 2 to speak to an ALLETE representative.
The sale of your ALLETE stock was a taxable event, and because of this you will need the cost basis information to calculate any capital gains for tax purposes. For more information on tax implications relating to the sale of your ALLETE stock, please reach out to your accountant or tax professional.
If you need additional help with calculating any cost basis information, Netbasis may be able to help. Netbasis is a shareholder paid service that ALLETE shareholders can utilize in calculating their adjusted cost basis. For more information go to netbasis.com/allete.