Level 3 Completes Tw Telecom Acquisition
Level 3 Communications completed its acquisition of tw telecom, said the acquirer in a news release Friday. The companies had argued through the regulatory approval process that the deal would make the combined company more competitive, a position with which…
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the FCC agreed in granting approval last week (see 1410270047). Level 3 President Jeff Storey said "the combination of tw telecom's rich metro footprint with Level 3's global network, positions the company to provide local-to-global business solutions and deliver a world-class customer experience." The release said tw telecom stockholders are receiving $10 of cash and 0.7 shares of Level 3 common stock for each share of tw telecom common stock owned.