Level 3 to buy Global Crossing in stock deal
April 11, 2011
Level 3 plans to acquire Global Crossing to form an expansive network services company. Under the terms of the deal, Level 3 will give 16 shares of its own stock for every Global Crossing share. 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.