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.

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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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