$LVLT (Level 3 Communications, Inc.)

$LVLT {{ '2015-10-28T14:06:53+0000' | timeago}} • Announcement

The telecommunications and Internet service provider $LVLT reported a profit of $1MM or break-even on a per-share basis in 3Q15, down sharply from a year-ago period. The latest period included a charge of $171MM or $0.48 a share related to the deconsolidation of its Venezuelan unit. Revenue increased 27% to $2.06Bil during the quarter.

$CTL {{ '2017-10-03T13:28:56+0000' | timeago}} • Announcement

The U.S. Department of Justice has agreed to clear $CTL's pending acquisition of $LVLT. The acquisition remains subject to regulatory approval from the Federal Communications Commission and the California Public Utilities Commission, along with other customary closing conditions.

$LVLT {{ '2017-10-02T12:53:27+0000' | timeago}} • Announcement

Communication services firm $LVLT said it received an unsolicited offer from TRC Capital to buy up to 2MM of its shares for $50.5 per share. Since the offer price is below the last closing price of the stock and the value of consideration for the proposed acquisition of Level 3 by $CTL, the company recommends that stockholders reject the TRC offer.

$CTL {{ '2017-09-12T15:26:57+0000' | timeago}} • Announcement

$CTL updated closing timeframe for acquisition of $LVLT. Based on proposed decision filed by California Administrative Law Judge recognizing that the combination is in public interest and recommending the California Public Utilities Commission approve the deal at its Oct. 12 meeting, $CTL now sees it to close in mid-to-late October 2017.

$CTL {{ '2017-08-24T11:37:05+0000' | timeago}} • Announcement

The State of New Jersey has approved $CTL's pending acquisition of $LVLT. With the New Jersey approval, California is the only state that has yet to approve or clear the acquisition.

$LVLT {{ '2017-08-03T16:48:19+0000' | timeago}} • Announcement

The General Services Administration (GSA) has awarded $LVLT's subsidiary Level 3 Communications LLC a multiple-year competitive contract known as Enterprise Infrastructure Solutions. This allows Level 3 to offer telecommunications solutions to support the GSA's goal of providing federal agencies access to network services.

$CTL {{ '2017-08-02T16:04:06+0000' | timeago}} • Announcement

The states of Mississippi and Washington have approved $CTL’s pending acquisition of $LVLT. 21 other states and territories, including Alaska, Colorado, Georgia, New York, Ohio, Virginia, West Virginia and the District of Columbia, had given the nod for the acquisition, which is expected to be completed by Sept. 30, 2017.

$CTL {{ '2017-07-10T13:30:29+0000' | timeago}} • Announcement

The states of Alaska, Colorado, New York and Pennsylvania recently approved $CTL's acquisition of $LVLT. The two companies continue to expect to receive the remaining state, federal and international approvals in time to complete the merger by Sept. 30, 2017.

$CTL {{ '2017-06-01T14:44:16+0000' | timeago}} • Announcement

$CTL said that upon closing of its acquisition of $LVLT, Jeff Storey, the present CEO of Level 3 Communications, will join CenturyLink as president and COO. Storey is likely to succeed CEO Glen F Post effective Jan. 1, 2019. Then, Post will become executive chairman of the Board. The transaction is expected to be completed by Sept.  30, 2017.

$CTL {{ '2017-05-30T13:46:10+0000' | timeago}} • Announcement

The states of Minnesota and Virginia recently approved the merger of $CTL and $LVLT. The two companies continue to expect to receive the remaining state, federal and international approvals in time to complete the merger by Sept. 30, 2017.

$CTL {{ '2017-05-30T13:20:21+0000' | timeago}} • Announcement

The states of Minnesota and Virginia recently approved the merger of $CTL and $LVLT. Currently, over 15 states and territories have approved or cleared the merger. The two companies expect to receive the remaining state, federal and international approvals in time to complete the merger by Sept. 30, 2017.

$LVLT {{ '2017-05-03T23:12:56+0000' | timeago}} • Webcast

$LVLT said it has made investments to focus on major markets such as the UK, France, Germany, Benelux rather than distributing all the focus across all the different markets. $LVLT has increased its focus on enterprise customers and continues to drive capabilities for enterprise customers with less dependence on wholesale customers.

$LVLT {{ '2017-05-03T23:04:08+0000' | timeago}} • Webcast

$LVLT saw some softness in the demand environment at the beginning of 1Q17 but it grew through the quarter. By the end of 1Q17, the company saw good trends in its sales bookings and believes the demand environment is healthy.

$LVLT {{ '2017-05-03T22:55:29+0000' | timeago}} • Webcast

$LVLT stated that it believes in an open Internet and that net neutrality is good for consumers as well as for the company. At the same time, $LVLT has worked through all the issues needed with customers and other providers to make sure it has the interconnection facilities in place and to support its business model.

$LVLT {{ '2017-05-03T20:53:08+0000' | timeago}} • Announcement

For 2017, $LVLT expects adjusted EBITDA of $2.94-3.00Bil and free cash flow of $1.10-1.16Bil, excluding CenturyLink acquisition-related expenses. The company incurred $20MM of CenturyLink acquisition-related expenses in 1Q17.

$LVLT {{ '2017-05-03T20:49:14+0000' | timeago}} • Announcement

$LVLT, which agreed to merge with $CTL, reported a 26% drop in its 1Q17 earnings, hurt by the $44MM pre-tax loss on the extinguishment and modification of debt. Net income was $95MM or $0.26 per share compared with $128MM or $0.36 per share in the year ago quarter. Revenue was flat at $2.048Bil versus a year ago.

$CTL {{ '2017-04-28T17:20:25+0000' | timeago}} • Announcement

$CTL said shareholders of both companies as well as several states have already approved or cleared the company's acquisition of $LVLT. The company continues to anticipate closing the transaction by the end of 3Q17.

$CTL {{ '2017-04-28T17:19:38+0000' | timeago}} • Announcement

$CTL CEO Glen Post III announced the senior leadership team that will report to him effective at the time of closing of the company's acquisition of $LVLT. In addition, Post plans to name an EVP, chief marketing officer at a later date.

$CTL {{ '2017-04-12T14:20:41+0000' | timeago}} • Announcement

The merger of $CTL and $LVLT received approval from Delaware, Hawaii, Maryland and the District of Columbia. The merger also recently received regulatory clearance from Texas, Georgia, Ohio, Utah and West Virginia. The companies expect to receive the remaining state, federal and international approvals to complete the merger by Sept. 30, 2017.

$CTL {{ '2017-03-16T22:30:27+0000' | timeago}} • Announcement

$CTL and $LVLT said shareholders of both companies approved all proposals related to their merger. Upon closing of the deal, $LVLT stockholders will receive $26.50 per share in cash and 1.4286 shares of $CTL stock for each $LVLT share they own. $CTL shareholders will own about 51% and $LVLT stockholders will own about 49% of the combined company.

$LVLT {{ '2017-02-21T16:04:39+0000' | timeago}} • Announcement

$LVLT's subsidiary, Level 3 Financing completed the marketing of refinancing of all of its outstanding $4.6105Bil senior secured term loans through the issuance of a new Tranche B 2024 Term Loan in the amount of $4.6105Bil. The terms loans being refinanced are Tranche B-III 2019 Term Loan, Tranche B 2020 Term Loan and Tranche B-II 2022 Term Loan.

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