CenturyLink to acquire Broomfield-based Level 3 for $25B

BROOMFIELD — CenturyLink and Broomfield-based Level 3 Communications Inc. announced Monday morning that the former plans to acquire the latter for roughly $25 billion in cash and stock, a move that means the loss of a major corporate headquarters for Colorado as well as the possibility of significant job cuts.

The news followed a report on Thursday that the two telecommunications companies were in advanced merger talks.

Company officials said they expect the deal to close in the third quarter of next year. While they said the merged firm will maintain a significant presence in Colorado, the combined headquarters will be in CenturyLink’s…