CenturyLink, Inc. (NYSE: CTL)
CenturyLink, Inc. and Qwest Communications completed their merger on April 1, 2011, creating the nation's third largest telecommunications company. The combined company's increased scale and financial strength will enable it to deliver a broader range of communications services to consumers and small businesses throughout the company's 37-state service area and to business, wholesale and government customers nationwide via its 190,000 route-mile fiber network.
The transaction was structured as a tax-free stock-for-stock exchange. Under the terms of the merger agreement, Qwest stockholders will receive 0.1664 shares of CenturyLink common stock for each share of Qwest common stock they owned at closing, plus cash paid in lieu of fractional shares. The company expects to continue its current annual dividend of $2.90 per share.
For more information about the merger, including state-by-state information and key facts, please visit www.centurylinkqwestmerger.com.
Qwest shareholders who need additional information or have questions about exchanging shares should visit www.computershare.com/CenturyLink/QwestFAQs.com.
CenturyLink is the third largest telecommunications company in the United States. The company provides broadband, voice and wireless services to consumers and businesses across the country. It also offers advanced entertainment services under the CenturyLink(TM) Prism(TM) TV and DIRECTV brands. In addition, the company provides data, voice and managed services to business, government and wholesale customers in local, national and select international markets through its high-quality advanced fiber optic network and multiple data centers. CenturyLink is recognized as a leader in the network services market by key technology industry analyst firms. CenturyLink's customers range from Fortune 500 companies in some of the country's largest cities to families living in rural America. Headquartered in Monroe, La., CenturyLink is an S&P 500 company and is included among the Fortune 500 list of America's largest corporations.