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Alaska Communications Stockholders Approve ATN International Merger

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  • Alaska Communications Systems Group Inc (NASDAQ: ALSKannounced shareholder approval certifying the previously announced merger agreement between Alaska and a newly formed entity created by ATN International Inc (NASDAQ: 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.
 

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