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Minnesota Power, electric supplier to Two Harbors, poised to sell to major investor companies

ALLETE, Inc., the Duluth-based company that owns local utility Minnesota Power, has reached a deal to be acquired by two institutional investors: the Canada Pension Plan Investment Board (CPP) and Global Infrastructure Partners (GIP). GIP, in turn, is owned by BlackRock, the world’s largest investment firm. Black Rock assets exceed the GDP of every nation except the United States and China.

Read MoreMinnesota Power, electric supplier to Two Harbors, poised to sell to major investor companies