Lawsuit for Investors who held Shares of Level 3 Communications, Inc. Announced by Shareholders Foundation
On October 31, 2016, CenturyLink (CTL) and Level 3 Communications, Inc. (NYSE: LVLT) announced that their Boards of Directors have unanimously approved a merger agreement under which CenturyLink will acquire Level 3 Communications, Inc. (NYSE: LVLT) in a cash and stock transaction valued at approximately $34 billion, including the assumption of debt. Under terms of the agreement, Level 3 shareholders will receive $26.50 per share in cash and a fixed exchange ratio of
1.4286 shares of CenturyLink stock for each Level 3 share they own, which implies a purchase price of $66.50 per Level 3 share (based on a CenturyLink $28.00 per share reference price).
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