Benzinga | Mar 15, 2021 10:08AM EDT

Alaska Communications Stockholders Approve ATN International Merger

* Alaska Communications Systems Group Inc (NASDAQ: ALSK) announced shareholder approval certifying the previously announced merger agreement between Alaska and a newly formed entity created by ATN International Inc (NASDAQ: ATNI) and ATN's financial partner Freedom 3 Capital, LLC.

* The merger will lead to Alaska Communications becoming a consolidated, majority-owned, and operated subsidiary of ATN.

* ATN International agreed to acquire Alaska in an all-cash transaction valued at $332 million under the arrangement.

* ATN International's cash and cash equivalents amounted to $105 million as of December 31, 2020.

* Price action: ALSK shares traded lower by 0.52% at $3.26 on the last check Monday.