Matt Potter 1:30 p.m., July 25
Will Leap Leap into Arms of Rejected Suitor?
Wall Street is abuzz with rumors that Leap Wireless may go to the altar with MetroPCS Communications, a suitor it rejected a few years ago. The Wall Street Journal reports that Leap has hired Goldman Sachs to help the company assess its alternatives. Both Leap and MetroPCS sell discount wireless phone service, and Wall Street has long thought they should merge to fend off competitors, according to the Journal. In 2007, Leap turned down an offer from MetroPCS. That offer was for about five times Leap's current price. The Journal says that Verizon and AT&T probably aren't interested in Leap.
More like this:
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- AT&T Talking with Leap, Says NY Times — Nov. 29, 2011
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- Leap Fat Cats Trouble Analysts — May 1, 2003