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Willkie Farr Leads Level 3 In $3B Global Crossing Buy

Law360 (April 11, 2011, 1:28 PM EDT) -- Level 3 Communications Inc. said Monday it had struck a deal to buy fellow Internet services provider Global Crossing Ltd. for $3 billion in a stock-for-stock takeover that will boost its strength in the fiber-based communications market.

The deal will improve Level 3's financial power and credit profile, expand its global presence, and enhance the array of services it can provide to its clients, the companies said jointly.

Under the terms of the transaction, which is tax-free and still subject to regulatory and shareholder approval, Global...
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