Level 3 has announced plans to buy Global Crossing for $3 billion in a stock-for-stock transaction. Level 3 will also assume Global Crossing’s $1.1 billion debt. This transaction creates a company with pro forma combined 2010 revenues of $6.26 billion, the companies said. The merging of the two companies will give Level 3 a more extensive global service portfolio of transport, IP and data solutions, content delivery, data center, colocation and voice services.
Loading ...
Level 3 Goes Out on a Limb With $3B Global Crossing Deal
Posted by: Rob Spiegel April 11, 2011 02:13 PMLevel 3 has announced plans to buy Global Crossing for $3 billion in a stock-for-stock transaction. Level 3 will also assume Global Crossing’s $1.1 billion debt. This transaction creates a company with pro forma combined 2010 revenues of $6.26 billion, the companies said. The merging of the two companies will give Level 3 a more extensive global service portfolio of transport, IP and data solutions, content delivery, data center, colocation and voice services.