Level 3 Communications Acquiring Global Crossing For $1.9 Billion

Posted Apr 14, 2011

Level 3 Communications, Inc. (NASDAQ:LVLT) is acquiring Global Crossing Ltd. (NASDAQ:GLBC) for $1.9 billion. Level 3 is a broadband services provider that is based in Broomfield, Colorado. Level 3 is paying $23.04 per share for Global Crossing, a 56% premium of the company’s closing stock price on April 8th. Level 3 CEO Jim Crowe will lead the merged companies. [BusinessWeek]