/// AT&T to Acquire Leap Wireless for $1.19 Billion in Cash

July 12, 2013  |  All Things Digital

AT&T Inc. agreed to acquire prepaid-wireless company Leap Wireless International Inc., the company behind the Cricket brand, for about $1.19 billion in cash. The deal is intended to kick-start the carrier’s expansion into the low-cost market and values Leap shares at $15 a piece, a roughly 88% premium to the company’s closing price Friday. Leap’s stock was up 93% after-hours at $15.40. Through the close, the stock had risen 36% in the past three months. AT&T said the deal will include Leap’s licenses, network assets, retail stores and around five million subscribers. Read the rest of this post on the original site »

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AT&T to Acquire Leap Wireless for $1.19 Billion in Cash



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