With help from Latham & Watkins and Willkie Farr & Gallagher, Level 3 Communications Inc. has agreed to acquire communications company Global Crossing Limited in an all-stock transaction worth $3 billion. Also, the Procter & Gamble Company has agreed, with with Jones Day representing P&G, to sell its Pringles business to Diamond Foods Inc., receiving $2.35 billion for the potato crisp brand.
April 14, 2011 at 12:00 AM
1 minute read
Level 3 Communications Inc. has agreed to acquire communications company Global Crossing Limited in an all-stock transaction worth $3 billion.
Global Crossing shareholders will receive 16 shares of Level 3 stock for each share of Global Crossing, the equivalent of $23.04 per share. Level 3, based in Broomfield, Colo., will also assume $1.1 billion of Global Crossing debt in the deal that is expected to close before year’s end.
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