ALLETE, Inc. (NYSE:ALE) is exploring a sale of the company, people familiar with the matter said on December 5, 2023. Allete is working with JPMorgan Chase & Co. (NYSE:JPM) on a sale process that has attracted suitors that include infrastructure funds and buyout firms, the sources said, cautioning that no deal is certain and asking not to be identified because the matter is confidential.

Allete and JPMorgan did not immediately respond to requests for comment.