Level 3 Shoots for $400M With Tender Offer

Level 3 Communications Inc. (LVLT) hopes to raise up to $400 million with newly announced tender offers.

The Broomfield, Colo.-based carrier said Monday it will sell convertible senior notes to raise cash. It will use the cash to finance tender offers, which means stockholders sell their shares, likely above market price.

If only personal finances worked this way.

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