Level 3 Communications in Acquisition of Global Crossing

Cleary Gottlieb is representing Goldman Sachs, as financial advisor to Global Crossing, in the sale of that company to Level 3 Communications for $3 billion in a stock-for-stock transaction. The transaction, announced on April 11, 2011, is expected to close before the end of the year.

Global Crossing is a leading global IP, Ethernet, data center and video solutions provider. Level 3 is an international provider of fiber-based communications services.