CenturyLink this morning announced that it will acquire all outstanding shares of Savvis common stock in a cash and stock merger valued at $40 per share, or a total of approximately $2.5 billion, plus net debt of approximately $0.7 billion which will be assumed or refinanced at close.
Under the terms of the transaction, Savvis stockholders will receive $30 per share in cash and $10 in shares of CenturyLink common stock. The consideration represents an 11 percent premium over Savvis' closing stock price as of the close of trading on April 26, 2011.
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