Goldman Sachs Downgrades Level 3 Communications (LVLT) to Neutral

FREE Breaking News Alerts from StreetInsider.com!

E-mail Address

StreetInsider.com Top Tickers, 11/5/2026

1. AMD
2. BKNG
3. DOX
4. AMGN
5. DUOL
6. ANET
7. SWKS
8. CVS
9. SPY
10. XYZ

Go back to Goldman Sachs Downgrades Level 3 Communications (LVLT) to Neutral

CenturyLink (CTL) to Acquire Level 3 Communications (LVLT) for $34B

October 31, 2016 6:30 AM EDT

CenturyLink (NYSE: CTL) and Level 3 Communications, Inc. (NYSE: LVLT) today announced that their Boards of Directors have unanimously approved a definitive merger agreement under which CenturyLink will acquire Level 3 in a cash and stock transaction valued at approximately $34 billion, including the assumption of debt. Under terms of the agreement, Level 3 shareholders will receive $26.50 per share in cash and a fixed exchange ratio of 1.4286 shares of CenturyLink stock for each Level 3 share they own, which implies a purchase price of $66.50 per Level 3 share (based on a CenturyLink $28.00 per share... More