Level 3 Communication Received the US Department of Justice Approval of Global Crossing’s Acquisition

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Level 3 Communication Received the US Department of Justice Approval of Global Crossing’s Acquisition Level 3 Communication Received the US Department of Justice Approval of Global Crossing’s AcquisitionLevel 3 Communication Received the US Department of Justice Approval of Global Crossing’s Acquisition

 

1 October 2011

Level 3 Communications is near to complete its acquisition of Global Crossing as the company stated that the US Department of Justice has finally approved the deal.
The DOJ's approval completes the process of acquisition under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (HSR). Moreover, the FCC representatives claimed that the organization had issued an order to approve the deal.
The DOJ together with the FBI and the Department of Homeland Security launched an investigation due to the concerns that this transaction could have some national security, law enforcement, and public safety issues.
XO Communications, Level 3's competitor, filed comments with the FCC that the combined company might create a "global colossus" that would lead to higher prices and lower service quality.
Now with approvals in hand, the company’s officials claimed that they will close the acquisition next week.

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