Deals
Level 3 Agrees to Acquire TW Telecom in $5.7 Billion Deal
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Level 3 Communications Inc., which helps route traffic across the Web, agreed to buy TW Telecom Inc. in a deal valued at about $5.7 billion to gain a direct connection to business customers.
TW Telecom shareholders will receive stock and cash valued at $40.86 per share, the companies said today in a statement. That’s a 12 percent premium to TW Telecom’s closing price last week. Including $1.6 billion of net debt, the deal is valued at $7.3 billion.