ALSK - Alaska Communications 'go-shop' period yields two new superior offers

Alaska Communications (ALSK) announces that the 30-day go-shop period has expired with an alternative of two new superior acquisition proposals.Under the terms of the superior proposal offer, the superior proposal bidder will acquire the Company for nominal consideration of $3.15 per share, reflecting a transaction valued at ~$318M including debt.The Company has notified its affiliate Macquarie and GCM, of the board’s determination that the superior proposal offer is a Superior Proposal under the Macquarie/GCM merger agreement and Macquarie and GCM have the right for four business days beginning December 4 to negotiate an amendment of the Macquarie/GCM merger agreement so that the superior proposal offer will no longer be a "Superior Proposal."Further, the Company is required to pay a $4.2M 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.Since the go-shop started, the financial advisor, B. Riley Securities contacted more than 50 strategic

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Alaska Communications 'go-shop' period yields two new superior offers