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Level 3 Buy of TW Telecom Set for Nov. 5 Closure


acquisitionLevel 3 Communications (NYSE: LVLT) and tw telecom (NASDAQ: TWTC) shareholders have voted to move forward with Level 3’s acquisition of tw telecom,  which the companies expect to close before an earnings call next week.

Level 3 said Tuesday the majority has also agreed on the allocation of common stock to tw telecom stockholders and to increase the number of those authorized shares.

The company will present both Level 3 and tw telecom earnings results for the third quarter and the final details of the acquisition transaction in a conference call on Nov. 5.

The Federal Communications Commission issued its approval of the $5.3 billion deal last week.

Level 3 has prepared for the integration of tw telecom over the past few months with a reorganization of Level 3’s management team.

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