May 6 (Reuters) - ALLETE Inc ( ALE ):

* ALLETE ENTERS AGREEMENT TO BE ACQUIRED BY A PARTNERSHIP

LED BY

CANADA PENSION PLAN INVESTMENT BOARD AND GLOBAL INFRASTRUCTURE

PARTNERS TO ADVANCE 'SUSTAINABILITY-IN-ACTION' STRATEGY

* ALLETE INC ( ALE ): SHAREHOLDERS TO RECEIVE $67.00 PER SHARE IN

CASH

* ALLETE INC ( ALE ): PROPOSED DEAL FOR $6.2 BILLION

* ALLETE INC ( ALE ) - PROPOSED DEAL FOR $6.2 BILLION INCLUDING

ASSUMPTION

OF DEBT.

* ALLETE INC ( ALE ): AGREEMENT CONTAINS COMMITMENTS TO RETAIN CO'S

WORKFORCE AND MAINTAIN COMPENSATION LEVELS AND BENEFITS PROGRAMS

* ALLETE INC ( ALE ): AGREEMENT ALSO HONORS UNION CONTRACTS

INCLUDING OUR

STRONG PARTNERSHIP WITH INTERNATIONAL BROTHERHOOD OF ELECTRICAL

WORKERS

* ALLETE INC ( ALE ): TO REMAIN LOCALLY MANAGED AND OPERATED WITH HQ

IN

DULUTH, MINNESOTA

* ALLETE INC ( ALE ) - FOLLOWING DEAL CLOSE, MINNESOTA POWER AND

SWL&P

WILL CONTINUE TO BE REGULATED BY MPUC, PSCW AND FERC

* ALLETE INC ( ALE ) - UPON COMPLETION OF ACQUISITION, ALLETE'S ( ALE )

SHARES

WILL NO LONGER TRADE ON NEW YORK STOCK EXCHANGE, AND ALLETE WILL

BECOME A PRIVATE COMPANY

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