(LVLT) - Level 3 Communications Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : (LVLT) - Level 3 Communications

LVLT 53.63

0.0%

Nov 1 5:00 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

From: Glenn Petersen	4/11/2011 9:56:28 AM
	Read Replies (1) of 3873

Level 3 to buy Global Crossing for $1.9 billion in stock Mon Apr 11, 2011 9:05am EDT (Reuters) - Internet content delivery company Level 3 Communications Inc plans to buy smaller rival Global Crossing Ltd for about $1.9 billion in a stock deal, as it looks to wrestle market share from Akamai Technologies Inc. Level 3 and Akamai compete to provide the network backbone for online video streaming services like Netflix Inc's popular movie downloads. The deal values Global Crossing at $23.04 a share, a premium of 56 percent to Global Crossing's Friday close. Global Crossing shareholders will receive 16 shares of Level 3 common stock for each share held, the latter said in a statement. Level 3 will also assume $1.1 billion of Global Crossing's debt, bringing the total deal value to about $3 billion. Shares of Global Crossing were up 73 percent at $25.67 in trading before the bell on Monday. Shares of Broomfield, Colorado-based Level 3 were up 26 percent in trading before the bell on Monday, after closing at $1.44 on Friday on Nasdaq. (Reporting by Sayantani Ghosh and Supantha Mukherjee in Bangalore; Editing by Gopakumar Warrier) tinyurl.com

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next