Level 3 to announces agreement to acquire TW Telecom


Monday, 16 Jun 2014 07:30am EDT 

Level 3 Communications Inc and tw telecom:Enters into definitive agreement, whereby Level 3 will acquire tw telecom in a stock-and-cash transaction valued at $40.86 per share based on market close as of June 13.Tw telecom stockholders will receive $10 cash and 0.7 shares of Level 3 common stock for each share of tw telecom common stock that is owned at closing.Citi and BofA Merrill Lynch acted as financial advisors to Level 3. Rothschild provided a fairness opinion.Willkie Farr & Gallagher LLP acted as legal counsel to Level 3.Evercore acted as financial advisor to tw telecom and provided an opinion with respect to the fairness of the transaction.Wachtell, Lipton, Rosen & Katz acted as legal counsel to tw telecom.Credit Suisse Securities (USA) LLC acted as financial advisor to ST Telemedia. 

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41.43
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25 Jul 2014