Level 3′s CEO, James Crowe, at Goldman Sachs conference in his typical style said that he wants to go shopping.
bq. We want companies that offer largely the same services and are in largely the same geographic area so we can take advantage of some synergies.
With a billion in cash, it is dying to do deals and in case there are no acquisition(s) that can be made, Crowe said they could use their excess cash to reduce its debt load.
Here is what Loop Capital has to say, and we agree…
bq. … looks like that $1B in cash is burning a hole in LVLT’s pocket. While acquisitions would help grow the top line, it would be nice to see the growth coming from more organic sources since it recently revised its guidance downward.
Given the recent earnings report, what the hell is he thinking anyway about going shopping.