Level 3 To Acquire WilTel Communications
Level 3 Communications, Inc. today announced that it has signed a definitive agreement with Leucadia National Corporation under which Level 3 will acquire WilTel Communications Group, LLC. Level 3 will pay 115 million shares of Level 3 common stock and $370 million cash.  The agreement provides that Level 3 will not acquire certain assets and liabilities of WilTel.  Closing is expected to occur in the first quarter of 2006, subject to customary closing conditions including receipt of state and federal regulatory approvals.