Minnesota power regulators on Friday approved a $6.2 billion plan for a BlackRock ( BLK ) unit and Canada Pension Plan to buy utility Allete ( ALE ), parent of Minnesota Power, saying recent modifications by the parties should address concerns about rates and clean-power investments.

The outcome of a meeting of the Minnesota Public Utility Commission, which was webcast, may reassure investors that BlackRock ( BLK ) will be able to address regulatory and antitrust concerns as its Global Infrastructure Partners unit, which it bought last year, presses to buy other utilities.