Alaska Communications Stockholders Approve ATN International Merger

  • Alaska Communications Systems Group Inc ALSK announced shareholder approval certifying the previously announced merger agreement between Alaska and a newly formed entity created by ATN International Inc ATNI and ATN's financial partner Freedom 3 Capital, LLC. 
  • The merger will lead to Alaska Communications becoming a consolidated, majority-owned, and operated subsidiary of ATN.
  • ATN International agreed to acquire Alaska in an all-cash transaction valued at $332 million under the arrangement.
  • ATN International's cash and cash equivalents amounted to $105 million as of December 31, 2020.
  • Price action: ALSK shares traded lower by 0.52% at $3.26 on the last check Monday.

Posted In: M&ANewsTechMedia