Alaska Communications skyrockets after announcing agreement to be acquired by Macquarie Capital and GCM Grosvenor for $3.0 per share

• Alaska Communications Systems (NASDAQ:ALSK) has entered into a definitive agreement pursuant to which the company will be acquired by an affiliate of Macquarie and GCM in an all-cash transaction valued at ~$300M, including debt.
• The transaction will result in ALSK becoming a privately held company and is expected to close in the 2H21.
• Pursuant to the terms, an affiliate of Macquarie and GCM will acquire all the outstanding shares of Alaska Communications common stock for $3.00 per share in cash.
• Under the terms of the agreement, ALSK may solicit superior proposals from third parties for a period of 30 calendar days continuing through Dec. 3, 2020.
• Shares +60% premarket.