Sidley is representing Alaska Communications Systems Group, Inc. (Nasdaq: ALSK), the leading provider of advanced broadband and managed IT services for businesses and consumers in Alaska, in its pending acquisition by ATN International, Inc. (Nasdaq: ATNI) and Freedom 3 Capital in a transaction valued at approximately US$332 million.
Alaska Communications’ prior agreement to be acquired by Macquarie Capital and GCM Grosvenor, entered into in November 2020, has been terminated following Macquarie’s and GCM’s waiver of matching rights under the agreement. The current transaction with ATN and Freedom 3 is expected to close by the end of 2021.
The team was led by partners Irving L. Rotter and Gabriel Saltarelli and included M&A associates Jessica Wood, Angela K. Daniel, Isaac Wall, Christian Bennardo, and Kaitlin Schock, as well as Finance partner Ram Burshtine and associate Martin Michalski, and Employee Benefits and Executive Compensation partner Benjamin A. Rosemergy and associates P.C. Wang and Richard Schneider III. Additional support was provided by Antitrust partner Karen Kazmerzak and counsel Elizabeth Chen; Global Arbitration, Trade and Advocacy partners James Mendenhall and Howard J. Stanislawski; Tax partner Laura M. Barzilai and associate Lena X. Qiu; Securities and Shareholder Litigation partner Andrew W. Stern and associate Charlotte K. Newell; Capital Markets partner David C. Buck; Securities Enforcement and Regulatory partner Barry W. Rashkover and senior counsel Michael Hyatte; Privacy and Cybersecurity counsel Ash Nagdev and associate Mark Prior; Environmental counsel Maureen M. Crough; and Labor, Employment and Immigration partner Katherine A. Roberts.