Level 3 to Buy TW Telecom for $7.3B

|About: Level 3 Communications, Inc. (LVLT)|By:, SA News Editor

Level 3 Communications (LVLT) agrees to acquire TW Telecom (TWTC) in a stock and cash deal valued at ~$7.3B, including ~$1.6B of net debt ($40.86/share); trading is halted for both.

TWTC has long been considered a takeover candidate, owing to its strength in the data space.

LVLT expects the acquisition to be accretive to free cash flow/share after the first year.