Level 3 Buys TW Telecom

Broomfield, Colorado-based Level 3 Communications said Monday that it has acquired fellow Colorado communications service provider tw telecom, in a deal worth $7.3 billion. Level 3 said it will pay stock-and-cash worth $40.86 per share for tw telecom, split between $10 in cash and 0.7 shares of Level 3 common stock for each share of tw telecom stock. Level 3 said the buy would enhance its market share. The combined company will have revenues of $7.9 billion.