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Duluth Firm Will Acquire St. Michael-based U.S. Water Services
2/2/2015 2:10:02 PM

In the transaction totaling $168 million, ALLETE, Inc. will assume an 87% share of U.S. Water services, with the remaining 13% retained by employees and management via stock options.

ALLETE’s more than 3600 industrial clients include a significant number of Fortune 500 companies and several fuel plants around the Midwest. The acquisition is in support of ALLETE’s strategy of investing in energy infrastructure.

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