Level 3 Communications obtains antitrust clearance for acquisition of Global Crossing
Client(s) Level 3 Communications, Inc.
Jones Day represented Level 3 Communications, Inc. before antitrust authorities in the U.S. and Europe in its $3 billion acquisition of Global Crossing Ltd., which combined two leading Internet backbone networks. Both companies have fiber optic networks in North America and Europe and serve telecommunications customers worldwide.
Announced in April 2011, the deal was investigated by the U.S. Department of Justice and Federal Communications Commission, the UK's Office of Fair Trading, Germany's Federal Cartel Office, and other government authorities. Jones Day responded to investigations and obtained approvals from various agencies, in multiple countries that impose differing legal standards, in time for closing scheduled in October 2011.