DENVER — CenturyLink has agreed to purchase Broomfield-based Level 3 Communications in a $34 billion deal, the companies announced Monday.
The deal values Level 3 at $66.50 a share, about 42 percent above where it was trading last week. The deal includes the assumption of debt.
“The combined company will have the ability to offer CenturyLink’s larger enterprise customer base the benefits of Level 3’s global footprint with a combined presence in more than 60 countries,” officials said in a statement.
“This is a compelling transaction for our customers, shareholders and employees,” Level 3 president and CEO Jeff Storey said. “In addition to the substantial value delivered to shareholders, the combined company will be uniquely positioned to meet the evolving and global needs of enterprise customers.”
Level 3 provides content-delivery network services, particularly to Netflix.
“The digital economy relies on broadband connectivity, and together with Level 3 we will have one of the most robust fiber network and high-speed data services companies in the world,” CenturyLink president and CEO Glen Post said