Qwest Merger with US West

B. Rajesh Kumar
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B. Rajesh Kumar: Institute of Management Technology

Chapter 25 in Wealth Creation in the World’s Largest Mergers and Acquisitions, 2019, pp 223-227 from Springer

Abstract: Abstract In the year 2000, the company completed the acquisition of US West. On June 30, 2000, US West merged with Qwest. The US West brand was replaced by the Qwest brand. On April 1, 2011, Qwest merged with CenturyLink. After the merger completion, Qwest brand was replaced by the CenturyLink brand. On announcement bid, Qwest stock price fell by more than 20%. The initial offer was valued at $35 billion. The initial offer of Qwest was rejected by US West as the latter reaffirmed its willingness to Global Crossing. Qwest increased its offer price to $69 a share for US West and $68 a share for Frontier. The renewed deal offer to US West was valued at $48 billion. Global Crossing’s offer had been $11 billion for Frontier and $30 billion for Qwest. Soon Qwest and US West reached an agreement to acquire US West. As a part of the deal, Qwest agreed to forego providing long-distance service in US West’s territory. Qwest added about 25 million customers and regional phone networks to it kitty as a result of its merger with US West. The combined company had a market capitalization of approximately $85 billion. The merger brought together one of the six largest and oldest local phone carriers and the next-generation long-distance carrier, thereby creating a giant company for the delivery of high-speed data, video, and voice transmissions

Keywords: Long-distance Carriers; Trust Company; Qwest Communications International; Universal Service Provider; Mountain Bell (search for similar items in EconPapers)
Date: 2019
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DOI: 10.1007/978-3-030-02363-8_25

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