Macquarie, GCM raise Alaska Communications takeover offer to USD320m

11 Dec 2020

Macquarie Capital and GCM Grosvenor (through its Labor Impact Fund) have announced that they have increased their takeover offer for Alaska Communications Systems Group, from USD3.00 per share to USD3.20 per share. The transaction is now valued at approximately USD320 million, including debt. The revised per-share consideration represents a 68% premium over Alaska Communications’ closing per-share price of USD1.91 on 2 November 2020 (i.e. the last trading day prior to the original merger agreement).

Shareholder TAR Holdings (which holds a roughly 8.8% stake in Alaska Communications) remains committed to the merger, while the transaction is still subject to the approval of the telco’s other stockholders, as well as regulatory approvals and other customary closing conditions.

United States, Alaska Communications, Macquarie Group