Alaska Communications Gets Rival Takeover Bid of About $325 Million
December 15 2020 - 6:47AM
Dow Jones News
By Dave Sebastian
Alaska Communications System Group Inc. said Tuesday it received
a takeover bid of about $325 million including debt, or $3.25 a
share, from a third party, higher than the $320 million offer from
Macquarie Capital and GCM Grosvenor.
Macquarie Capital and GCM had raised their bid to $3.20 a share
from $3 a share. Under the current agreement, the two investment
firms have the right to propose a higher bid for four days
beginning Tuesday, Alaska Communications said.
Alaska Communications said it would need to pay a $6.8 million
termination fee to Macquarie and GCM if it goes with the third
party's offer.
Write to Dave Sebastian at dave.sebastian@wsj.com
(END) Dow Jones Newswires
December 15, 2020 06:32 ET (11:32 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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