November 1, 2005
Level 3 Communications, Inc. announces definitive agreement to acquire WilTel Communications Group, LLC from Leucadia National Corporation for 115 million shares of Level 3 common stock and $370 million cash.
On October 31, Willkie client Level 3 Communications, Inc. announced that it has signed a definitive agreement to acquire WilTel Communications Group, LLC from Leucadia National Corporation for 115 million shares of Level 3 common stock and $370 million cash. The total value of the deal is approximately $680 million. Tulsa, OK-based WilTel provides a comprehensive suite of voice, data, video and IP services over a next-generation fiber-optic network. Level 3 is an international communications and information services company, offering a wide range of communications services over its 23,000-mile broadband fiber optic network. Earlier this year, Willkie assisted Level 3 in its $880 million offering of convertible senior notes. As reported in the November 1 Daily Deal, the current transaction was handled by partner David Boston and associate Nicole Napolitano.
