Hello, Guest!
  • Thursday, November 21, 2024

CenturyLink Moves Closing Date for $34B Level 3 Acquisition to October


CenturyLink (NYSE: CTL) has pushed back the projected closing date for its pending $34 billion acquisition of Level 3 Communications (NYSE: LVLT) through a cash-and-stock transaction from Sept. 30 to mid-to-late October.

The revised timeframe for the transaction™s intended closure was based on the California administrative law judge™s recommendation for the California Public Utilities Commission to clear the deal at its Oct. 12 meeting, CenturyLink said Tuesday.

CenturyLink CEO Glen Post said 24 states and territories have cleared the transaction since the start of the regulatory approval process.

“We are working to obtain the remaining approvals, including the State of California, the Department of Justice, and the Federal Communications Commission, and want to give the regulators time to complete their review process, Post noted.

“We view the slight delay in our projected closing date as manageable, and it does not affect our integration planning process, he added.

The companies originally announced their planned merger in October 2016.

Video of the Day

Related Articles

Viasat-Inmarsat Deal Clears Final Regulatory Hurdle M&A Activity

Viasat-Inmarsat Deal Clears Final Regulatory Hurdle

Viasat (Nasdaq: VSAT) is set to close the acquisition of U.K.-based satellite communication services provider Inmarsat by the end of May after the European Commission issued unconditional clearance to the approximately $7.3 billion transaction. The commission said Thursday it concluded that the deal would not impact competition in the broadband in-flight connectivity services market in

FCC Clears Viasat-Inmarsat Deal, Companies Expect to Close Transaction in Late May M&A Activity

FCC Clears Viasat-Inmarsat Deal, Companies Expect to Close Transaction in Late May

The Federal Communications Commission has given Viasat (Nasdaq: VSAT) the go-ahead to continue its estimated $7.3 billion acquisition of Inmarsat. FCC issued “unconditional” clearance to the proposed combination and both satellite service providers aim to complete the deal later this month, according to a joint statement released Friday. The commission’s approval comes less than two

14 Companies Win Spots on $204M FCC IT Application Development Contract Contract Awards

14 Companies Win Spots on $204M FCC IT Application Development Contract

Fourteen companies have won positions on a potential $203.6 million multiple-award contract to help the Federal Communications Commission implement information technology systems and services. FCC named the winning vendors for the Application Development Support Services contract in a notice posted Tuesday on SAM.gov. Services cover the areas of program and project management, software development and