By Dave Sebastian

Alaska Communications System Group Inc. said Tuesday its original bidders for a takeover, Macquarie Capital and GCM Grosvenor, have upped their offer to $3.26 a share from $3.20 a share, valuing the deal at about $325 million, including debt.

The bid is a penny a share higher than a competing offer Alaska Communications disclosed last week.

The two investment firms have increased their bid from about $300 million, as a "go-shop" period allowed the broadband and information technology-services company to review competing offers.

Write to Dave Sebastian at dave.sebastian@wsj.com

(END) Dow Jones Newswires

December 22, 2020 06:30 ET (11:30 GMT)

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