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Level 3 Communications Inc (LVLT.N)

LVLT.N on New York Stock Exchange

58.40USD
13 Jan 2017
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Latest Key Developments (Source: Significant Developments)

Centurylink -refiled pre-merger notification under Hart-Scott-Rodino antitrust improvements act of 1976 related to Level 3 acquisition
Thursday, 12 Jan 2017 04:28pm EST 

Centurylink Inc : Centurylink -refiled pre-merger notification under hart-scott-rodino antitrust improvements act of 1976 in connection with previously-announced acquisition of level 3 . Centurylink inc- Centurylink and level 3 continue to expect their proposed transaction to be consummated in q3 of 2017 .Centurylink -following consultations with u.s. Doj, co withdrew its original Hart-Scott-Rodino notification on january 11, 2017.  Full Article

Level 3 Q3 earnings per share $0.40
Monday, 31 Oct 2016 06:35am EDT 

Level 3 Communications Inc : Q3 earnings per share $0.40 . Level 3 Communications Inc - now expect capital expenditures to be approximately 16 percent of total revenue for full year 2016 . Level 3 Communications Inc - reiterating outlook of 10 to 12 percent adjusted EBITDA growth and $1.0 to $1.1 billion of free cash flow for full year 2016 . Level 3 reports third quarter 2016 results .Q3 revenue $2.033 billion versus I/B/E/S view $2.07 billion.  Full Article

CenturyLink to acquire Level 3 Communications for about $34 bln
Monday, 31 Oct 2016 06:30am EDT 

Centurylink Inc : CenturyLink to acquire Level 3 Communications . Says deal for about $34 billion . Glen Post will serve as CEO and President and Sunit Patel will serve as CFO for combined company . Level 3 shareholders will receive $26.50 per share in cash and a fixed exchange ratio of 1.4286 shares of CenturyLink . CenturyLink expects transaction to be accretive to free cash flow in first full year following close of transaction . Deal for $66.50 per Level 3 share . Shareholders will own approximately 51 percent and Level 3 shareholders will own approximately 49 percent of combined company . Increased scale afforded by combined company is expected to generate $975 million of annual run-rate cash synergies . Expect to maintain CenturyLink's annual dividend of $2.16 per share . Intends to finance cash portion of deal through cash on hand at company and Level 3 and about $7 billion of additional indebtedness . Received financing commitments from BofA Merrill Lynch, Morgan Stanley & Co of about $10.2 billion for new secured debt facilities .All existing indebtedness of Level 3 is expected to remain in place at Level 3.  Full Article

Level 3 Communications Q2 earnings per share $0.42
Wednesday, 27 Jul 2016 06:50am EDT 

Level 3 Communications Inc : Q2 earnings per share $0.42 . Expect full year 2016 adjusted EBITDA growth of 10 to 12 percent . Sees FY free cash flow of $1.0 to $1.1 billion . Level 3 reports second quarter 2016 results . Q2 revenue $2.056 billion versus I/B/E/S view $2.08 billion . Qtrly diluted earnings per share of $0.41 . Expect full year 2016 adjusted EBITDA growth of 10 to 12 percent and free cash flow of $1.0 to $1.1 billion .Q2 earnings per share view $0.44 -- Thomson Reuters I/B/E/S.  Full Article

Level 3 Communications statement on FCC action to unlock $45 Billion Business Data Services
Thursday, 28 Apr 2016 05:00pm EDT 

Level 3 Communications:Issued the statement below in reaction to steps taken at today's Federal Communications Commission (FCC) meeting to unlock the market for business data services (formerly known as "special access" services).For more than a decade, the FCC has investigated the competitiveness of pricing and terms for business data services.  Full Article

Level 3 Communications Inc updates FY 2016 EBITDA outlook
Thursday, 28 Apr 2016 06:50am EDT 

Level 3 Communications Inc:Expects Fy 2016 adjusted EBITDA growth of 10 to 12 percent, compared to the company's previous outlook of 9 to 12 percent.  Full Article

Level 3 Communications Inc announces pricing of private offering of senior notes
Tuesday, 8 Mar 2016 05:22pm EST 

Level 3 Communications Inc:Says Level 3 Financing Inc, its wholly owned subsidiary has agreed to sell $775 million aggregate principal amount of its 5.25% Senior Notes due 2026.Notes were priced to investors at 100 percent of their principal amount and will mature on March 15, 2026.  Full Article

Level 3 Communications, Inc proposed private offering of senior notes
Tuesday, 8 Mar 2016 06:56am EST 

Level 3 Communications, Inc:Announces proposed private offering of senior notes.Level 3 financing, inc plans to offer $500 million aggregate principal amount of senior notes that will mature in 2026.Net proceeds with cash on hand, to be used to redeem $500 million amount of Level 3 financing, inc.'s 7% senior notes due 2020.  Full Article

Level 3 Communications Inc - Level 3 to pay over $8 mln to settle Massachusetts charges - Reuters
Monday, 7 Mar 2016 01:50pm EST 

Level 3 Communications Inc:To pay more than $8 million to settle false claims allegations in Massachusetts, state says.Settles allegations it improperly withheld rental payments under agreement to run fiber optic cable along state highways.Massachusetts ag says Level 3 to pay about $7 million to the state, and $1.2 million to state's department of transportation.  Full Article

Level 3 Communications, Inc says CEO to take medical leave of Absence
Wednesday, 24 Feb 2016 04:38pm EST 

Level 3 Communications, Inc:CEO to take medical leave of absence.Announced effective immediately, Jeff K. Storey, Level 3's CEO, will take a temporary medical leave of absence.Says sunit patel named as interim CEO.Says storey's leave of absence will be approximately two months.Jeff K. Storey will take a temporary medical leave of absence due to successful surgery for a recently diagnosed heart condition.Storey will return to duty on a limited basis after the 2 months; he is expected to make a full recovery.  Full Article

BRIEF-Centurylink -refiled pre-merger notification under Hart-Scott-Rodino antitrust improvements act of 1976 related to Level 3 acquisition

* Centurylink -refiled pre-merger notification under hart-scott-rodino antitrust improvements act of 1976 in connection with previously-announced acquisition of level 3