Saturday, October 25, 2014

FCC Clears Level 3's Bid for tw telecom

The FCC cleared Level 3's pending acquisition of tw telecom.

http://www.level.com


In June 2014 Level 3 Communications agreed to acquire tw telecom in a deal that will combine its global fiber network and international data centers with tw telecom's extensive metro footprint in major U.S. markets. The stock-and-cash transaction was valued at $40.86 per TWTC share, or $5.7 billion in aggregate, based on market close as of June 13, 2014. tw telecom stockholders will receive $10 cash and 0.7 shares of Level 3 common stock for each share of tw telecom common stock that is owned at closing.

Level 3 has already lined up $3 billion of committed financing for the acquisition.

Some highlights:
  • Level 3 is based in Broomfield, Colorado and has 10,200 employees.
  • Active in 60 countries and 170 markets
  • Intercity fiber route miles: 110,000
  • Metro fiber route miles: 36,000
  • Subsea fiber route miles: 33,000

  • tw telecom is based in Littleton, Colorado and has 3,407 employees.
  • U.S. markets served: 36
  • Intercity fiber route miles: 8,700
  • Metro fiber route miles: 24,000

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