ACS Agrees to Takeover by ATN Valued at $332M

Alaska Communications Systems announced a $332 million sale to ATN International Monday, ending the agreement it originally had with Macquarie Capital and GCM Grosvenor (see 2012150033). The all-cash transaction is expected to close in Q2, and ACS said it paid the $6.8 million termination fee to Macquarie and GCM. The purchase will "allow us to enhance our expanded fiber network services and drive long-term value," said ACS CEO Bill Bishop.