Hello, Guest!
  • Monday, November 25, 2024

FCC OKs CenturyLink’s $34B Buy of Level 3


The Federal Communications Commission has cleared CenturyLink‘s (NYSE: CTL) proposed $34 billion acquisition of Level 3 Communications (NYSE: LVLT).

CenturyLink said Monday the FCC approval came two weeks after the California Public Utilities Commission cleared the acquisition at its Oct. 12 meeting.

John Jones, senior vice president for public policy and government relations at CenturyLink, said the FCC approval suggests that the company has all the required regulatory clearances to conclude the transaction.

Jones added that CenturyLink expects to close the deal Wednesday, Nov. 1.

The company noted that the U.S. District Court for the District of Columbia also ratified on Oct. 4 an asset preservation stipulation under a consent decree between CenturyLink and the Justice Department.

The deal originally announced in October 2016 has approval from DOJ and clearances from 25 states and territories.

Video of the Day

Related Articles

FTC, Justice Department Unveil 2023 Merger Guidelines M&A Activity

FTC, Justice Department Unveil 2023 Merger Guidelines

The Federal Trade Commission and the Department of Justice have released final guidelines outlining the frameworks and factors the agencies use in assessing mergers and acquisitions. FTC said Monday it voted unanimously to approve the 2023 Merger Guidelines, which reflect advances in law and economics, the experiences of market participants and feedback gained through public

Iron Mountain Secures $150M DOJ Records & Info Management Services BPA; Melissa Carson Quoted Contract Awards

Iron Mountain Secures $150M DOJ Records & Info Management Services BPA; Melissa Carson Quoted

Iron Mountain (NYSE: IRM) has secured a 10-year, $150 million blanket purchase agreement from the Department of Justice to help the Office of Records Management Policy store, manage and digitize government records across all DOJ components. The Records and Information Management Services BPA will support the development of ORMP’s records management as a service tool

DOJ Awards 14 Companies Spots on Incidental IT Support Services BPA Contract Awards

DOJ Awards 14 Companies Spots on Incidental IT Support Services BPA

The Department of Justice has awarded 14 companies spots on a multiple-award blanket purchase agreement to provide helpdesk support, incidental information technology and program management services. According to a posting, four companies were initially awarded positions on the DOJ Incidental IT Support Services BPA via a full and open competition and 10 new awardees were