Level 3 Completes Acquisition of WilTel
An AP newswire article, via SFGate.com, reports that:
Network operator Level 3 Communications Inc. said Friday it has completed a $696.5 million cash-and-stock deal to acquire WilTel Telecommunications Group.
The acquisition will add $50 million to $90 million to overall cash flow next year and as much as $150 million in incremental cash flow per year beginning in 2007, Level 3 Chief Financial Officer Sunit Patel said. Integration costs were estimated to be from $100 million to $150 million.