Level 3 plans to acquire Global Crossing to form an expansive network services company.
Under the terms of the deal, announced today, Level 3 will give 16 shares of its own stock for every Global Crossing share. Based on Level 3's closing price on April 8 of $23.04, the company estimates the value of the deal at $3 billion. That figure also includes $1.1 billion of debt, which Level 3 will assume.
Level 3 provides fiber optic-based data, Internet, content delivery, and voice services for companies and government customers. Global Crossing is best known for offering IP-based … Read more