The combined network would serve a worldwide customer set with owned network in more than 50 countries and connections to more than 70 countries.
[Here, Network World covers this as the in telecom.]
On a pro forma basis, the combined company would have had 2010 revenues of $6.26 billion, with combined 2010 adjusted EBITDA of $1.27 billion. After accounting for synergies, EBITDA would have risen to $1.57 billion, the companies said.
Terms call for Global Crossing holders to receive 16 shares of Level 3 common for each Globe Crossing common or preferred share is owned when the deal closes. Based on April 8 closing prices the transaction is worth $23.04 a share, or a total of about $3 billion, after including assumption of approximately $1.1 billion of net debt.
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