CenturyLink (NYSE: CTL) has named the executives that will form the senior leadership team of the future combined company that will result from its planned $34 billion purchase of Level 3 Communications (NYSE: LVLT).
Glen Post III, CEO and president of CenturyLink, will lead the team as part of the move that will take effect upon the close of the acquisition, the company said Friday.
“With the assets we will have as a result of this strategic combination and with this leadership team in place at closing, we believe we will be positioned to deliver strong performance not only in the United States but also in our expanded markets globally,” Post said.
The transaction, which the parties unveiled in October 2016, is anticipated to close by the end of the third quarter.
Included in the senior leadership team is Clay Bailey, senior vice president for operational transformation at CenturyLink, who will oversee the integration of the two companies and head automation and simplification in the future combined company.
Please click this link to see the complete list of appointed executives.
CenturyLink and Level 3 have separately secured the approval of their respective shareholders regarding the cash-and-stock deal as they aim to create a company that will utilize a global network to provide communications platforms and services to enterprise, government and wholesale clients.
They have also received state regulatory clearances in Connecticut, Delaware, Georgia, Hawaii, Indiana, Louisiana, Maryland, Nevada, Ohio, Texas, Utah, West Virginia and Washington, D.C., as of mid-April.