FTC Clears Level 3's $3B Global Crossing Buy

Law360, New York (September 29, 2011, 2:20 PM EDT) -- The Federal Trade Commission said Thursday that Level 3 Communications Inc. can proceed with its plans for a $3 billion stock-for-stock takeover of fellow Internet services provider Global Crossing Ltd.

The agency granted early termination to its antitrust review about two months after shareholders from both companies approved the deal, which was first announced in April.

The deal will boost Level 3's strength in the fiber-based communications market, improve its financial power and credit profile, expand its global presence, and enhance the array of services it...
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