Jul 28, 2002 (08:07 PM EDT)
Level 3 Bids $1.1B For Bankrupt Rival

Read the Original Article at InformationWeek

Fiber-optic network operator Level 3 Communications Inc. last week made an unsolicited $1.1 billion offer to buy bankrupt carrier Williams Communications Group. Williams hadn't immediately responded to the offer by Level 3, which recently raised a $500 million war chest for acquisitions of troubled telecom companies.