Level 3 shares surge on report of ‘advanced’ merger talks with CenturyLink

BROOMFIELD — Level 3 Communications Inc. (NYSE: LVLT) saw its stock price spike more than 10 percent in afternoon trading Thursday after a Wall Street Journal report that the Broomfield-based company is in “advanced talks to merge” with CenturyLink (NYSE: CTL).

The news comes after reports earlier this year that Level 3 could be seeking a merger or other strategic option such as a large stock buyback.

The Wall Street Journal report Thursday, citing anonymous sources, said a deal could be…