tedkov
4 years ago
Alaska Shareholders Upset Over Merger Bid (Seek to file Lawsuit)- (via Business Journal)
November 4, 2020
Tags: United States Alaska Macquarie GCM Corporate Affairs Mergers & Acquisitions
A group of Alaska Communications Systems shareholders are attempting to block the $300 million purchase of the company by Macquarie Capital and GCM Grosvenor. Under terms of the definitive merger agreement, Macquarie and GCM, will acquire the outstanding shares in the company for $3.00 per share.
The deal would represent a hefty premium of approximately 57% to the preceding day. The deal is slated to close next year, pending approval by regulators and a majority of Alaska shareholders.
The shareholders allege that the purchase price of $3.00 per share is insufficient in light of the company's growth prospects and that deal-protection clauses in the merger agreement preclude other companies from submitting successful competing offers. Indeed, the book value alone of the company is worth $3.17 per share and the company has over $45 million of cash on its books (or $0.83) which the buyers will use to offset the sale. In addition, shareholders allege that senior management of Alaska obtained personal benefits for their own self interests in agreeing to sell the company at that price that are not being shared with common stockholders.
Alaska investor relations did not immediately respond to requests for a comment.
To contact the law firm on behalf of shareholders of Alaska for more information as to how you can participate with other shareholders in seeking a higher price at no cost or expense can call toll free 800.511.7037.
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whytestocks
4 years ago
NEWS: $ALSK ALASKA COMMUNICATIONS ALERT: Bragar Eagel & Squire, P.C. Investigates Sale of ALSK and Encourages Investors to Contact the Firm
NEW YORK, Nov. 03, 2020 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, has launched an investigation into whether the board members of Alaska Communications Systems Group, Inc. (NASDAQ: ALSK) breached their fiduciary duties or viola...
Got this from ALSK - ALASKA COMMUNICATIONS ALERT: Bragar Eagel & Squire, P.C. Investigates Sale of ALSK and Encourages Investors to Contact the Firm
whytestocks
4 years ago
Just In: $ALSK ALERT: Rowley Law PLLC is Investigating Proposed Acquisition of Alaska Communications Systems Group, Inc.
ALERT: Rowley Law PLLC is Investigating Proposed Acquisition of Alaska Communications Systems Group, Inc. PR Newswire NEW YORK, Nov. 3, 2020 NEW YORK , Nov. 3, 2020 /PRNewswire/ -- Rowley Law PLLC is investigating potential securities law violations by A...
In case you are interested ALSK - ALERT: Rowley Law PLLC is Investigating Proposed Acquisition of Alaska Communications Systems Group, Inc.
whytestocks
4 years ago
NEWS: $ALSK (ALSK) Alert: Johnson Fistel Investigates Proposed Sale of Alaska Communications; Is $3 a Fair Price?
(ALSK) Alert: Johnson Fistel Investigates Proposed Sale of Alaska Communications; Is $3 a Fair Price? PR Newswire SAN DIEGO, Nov. 3, 2020 SAN DIEGO , Nov. 3, 2020 /PRNewswire/ -- Shareholder rights law firm Johnson Fistel, LLP has launched an investigation in...
Find out more ALSK - (ALSK) Alert: Johnson Fistel Investigates Proposed Sale of Alaska Communications; Is $3 a Fair Price?
iheartweimers
9 years ago
Thomson Reuters issued a detailed stock report on April 13
assigning a buy recommendation on an average score of 6
out of 10, the best for ALSK this year. The stock has an
earnings rating of 10 against the industry rating of 5.9 but the
mean stock price target was decreased from 3.38 to 2.88, with
a 12 month price target high of 3.50 and low of 2.25. This is
a marked increase since the stock has a 52 week average of
2.05 and has traded significantly lower since December 2014.
There have been four positive surprise earnings quarters in
a row, Thomson gave them a score of 10. Institutions own
20.5% of ALSK stock and I believe they are responsible for
the volume doubling today (467,272) over yesterday and the
close of 1.90 (up .10)
I have believed ALSK has been undervalued for some time
and took a initial position in Oct 2012 at 2.31. I added quite
steadily and sold one-third of my shares in Aug 2013 at 3.21.
Should have sold them all, but crystal ball wasn't working
as it went South and have been deep in the red since. I did
add 500 shares around 1.55 and of course was tempted to
add near the low 12/04/2014 of 1.18 but nobody knew where
this was going to go. Or that it would go from the 52 wk low
to the 52 wk high in 24 hours. Alaskans are crazy and now I
know why.