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Level 3 Buys WilTel for $680M in Cash, Stock

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BROOMFIELD, Colo., Oct. 31 -- IP fiber optic network provider Level 3 Communications Inc. today announced that it has signed a definitive agreement with Leucadia National Corp. to acquire its WilTel Communications Group LLC for approximately $680 million -- 115 million shares of common stock currently valued at $310 million and $370 million cash. The closing is expect to occur in the first quarter of 2006, pending regulatory approval. WilTel delivers voice, data, video and IP services over a next-generation fiber optic network. Under the agreement, Level 3 will not acquire WilTel's Tulsa...Read full article

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