Two wonderful companies are going to become one big awesome company. Colorado-based Level 3 Communications, Inc. and tw telecom, also based in CO, announced that they have entered into a definitive agreement, intended to qualify as a tax-free reorganization, whereby Level 3 will acquire tw telecom in a stock-and-cash transaction valued at $40.86 per share based on market close as of June 13, 2014.
From their joint press release:
"The combination leverages the highly complementary strengths of the two companies to create a stronger, more nimble, customer service-oriented competitor to meet customers’ increasingly complex local, national and global communications needs."
I'm an agent in good standing with both companies. Have been for years. I have clients with services from both companies. For my small business clients, tw telecom offers better customer service. While Level 3 is a strong, good company, they are known for just showing up and doing their job and not for add-on services and customer service. For this reason, I hope the acquisition generates a gigantic tw telecom and not a faceless Level 3.
tw telecom CEO says the following in the press release: