June 16, 2014 / 11:46 AM / in 3 years

Level 3 Communications to buy tw telecom

June 16 (Reuters) - Telecommunications services company Level 3 Communications Inc said it would buy internet services provider tw telecom Inc for $40.86 per share in a cash and stock deal.

The deal, valued at about $5.64 billion based on outstanding shares as of April 30, represents a premium of 12 percent to tw telecom’s Friday closing price of $36.34 on Nasdaq. (Reporting by Supantha Mukherjee in Bangalore; Editing by Saumyadeb Chakrabarty)

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