Alaska Communications receives superior takeover proposal of $3.25 per share

• Alaska Communications (NASDAQ:ALSK) received an acquisition proposal from a third party at $3.25/share (prior: $3.0/share) that constitutes a "Superior Proposal".
• Under the terms, the bidder would acquire the Company for nominal consideration of $3.25/share, reflecting a transaction valued at ~$325M including debt.
• Macquarie and GCM have the right to negotiate an amendment of the Macquarie/GCM merger agreement for a period of four business days beginning Dec. 15.
• Under the Macquarie/GCM merger agreement, the Company is required to pay a $6.8M termination fee to Macquarie and GCM if the Board terminates the Macquarie/GCM Merger Agreement in order to enter into an agreement with the Superior Proposal Bidder.
• At this time, the Company remains subject to the Macquarie/GCM Merger Agreement and the Board has not changed its recommendation in support of the existing Macquarie/GCM Merger Agreement, or its recommendation that the Company's stockholders adopt the Macquarie/GCM Merger Agreement.
• Previously: Alaska Communications skyrockets after announcing agreement to be acquired by Macquarie Capital and GCM Grosvenor for $3.0 per share (Nov. 3)