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Fly News Breaks for October 28, 2016
CTL, LVLT
Oct 28, 2016 | 07:52 EDT
JPMorgan analyst Philip Cusick's base case has CenturyLink (CTL) acquiring Level 3 (LVLT) for $61 per share in cash and stock. While a merger of equals would bring "substantial value creation," Level 3 shareholders as likely, at a minimum, to want some premium to the high-end of this year's trading range of $57.59 or could resist the deal aggressively, Cusick tells nivestors ina research note. He believes the deal makes sense at a premium for Level 3.
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