Shares of CenturyLink Inc. rose on Monday after Keith Meister of Corvex Managment talked up the telecommunications company at the Sohn Conference in New York. Meister characterized the company’s pending merger with Level 3 Communications Inc. as a game changer and projected a 40% return in a base case. CenturyLink’s $25 billion takeover of Level 3 is slated to close in the third quarter. Corvex owns a 5.5% stake in CenturyLink. Shares of CenturyLink rose 3.2% while Level 3 gained 1.9%.
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