BROOMFIELD, Colo. -- Level 3 Communications announced it completed its acquisition of tw telecom. The transaction further positions the company as a global leader in the rapidly evolving business communications market.
The combined company provides enterprise, government and carrier customers around the world with one of the most comprehensive product portfolios in the industry, supported by its global network and deep metro footprint across North America.
"Level 3 is helping customers migrate to the next wave of technology," said Jeff Storey, president and CEO of Level 3. "We know our customers' needs are changing, and by bringing together these two great, customer-focused companies, we are taking the next step in the evolution of Level 3 and bringing us closer to realizing our vision of being the trusted connection to the networked world.
"The combination of tw telecom's rich metro footprint with Level 3's global network, positions the company to provide local-to-global business solutions and deliver a world-class customer experience," Storey continued.
tw telecom stockholders are receiving $10 of cash and 0.7 shares of Level 3 common stock for each share of tw telecom common stock owned. tw telecom's common stock will cease trading on NASDAQ as of market close on Oct. 31, 2014, and will no longer be listed on NASDAQ.
Level 3 Communications Inc. (NYSE: LVLT)