1. Allete (ALE) will be removed from the S&P MidCap 400. 2. Corebridge Financial (CRBG) will replace Allete in the index. 3. The change takes effect before the market opens on December 17, 2025. 4. Allete is being acquired by Canada Pension Plan Investment Board. 5. The deal is expected to close soon, pending conditions.
FAQ
Why Bearish?
Being removed from the S&P MidCap 400 can diminish liquidity and investor interest. Historical examples show similar exits can negatively impact stock prices due to reduced visibility.
How important is it?
The article discusses a significant change in ALE's market position, affecting investor sentiment and indexed exposure.
Why Short Term?
The immediate effect of S&P index changes typically impacts stock prices around the announcement date. Past removals have shown notable short-term price declines as investors adjust portfolios.
NEW YORK, Dec. 12, 2025 /PRNewswire/ -- Corebridge Financial Inc. (NYSE:CRBG) will replace Allete Inc. (NYSE:ALE) in the S&P MidCap 400 effective prior to the open of trading on Wednesday, December 17. Canada Pension Plan Investment Board and Global Infrastructure Partners are acquiring Allete in a deal expected to close soon, pending final closing conditions.
Following is a summary of the change that will take place prior to the open of trading on the effective date:
Effective Date | Index Name | Action | Company Name | Ticker | GICS Sector |
Dec 17, 2025 | S&P MidCap 400 | Addition | Corebridge Financial | CRBG | Financials |
Dec 17, 2025 | S&P MidCap 400 | Deletion | Allete | ALE | Utilities |
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