CenturyLink agrees to buy Level 3 Communications in $34 billion deal: Reuters

(Reuters) — CenturyLink Inc said on Monday it would buy Level 3 Communications Inc in a cash-and-stock deal valued at about $34 billion, including debt.

CenturyLink will offer $26.50 in cash and 1.4286 of its shares for each Level 3 share held.

The deal would combine Level 3’s enterprise services with CenturyLink’s network that provides Internet and telephone offerings to millions of customers.