AT&T Inks $1.2B Deal To Buy Prepaid Provider Leap

Law360, Los Angeles (July 12, 2013, 8:23 PM EDT) -- AT&T Inc. has agreed to buy San Diego-based prepaid wireless provider Leap Wireless International Inc. for $15 per share in cash, which comes out to about $1.19 billion, AT&T announced on Friday.

Under the deal, which is expected to close in six to nine months, AT&T will acquire all of Leap’s stock and wireless properties, including licenses, network assets, retail stores and approximately 5 million subscribers. Leap, which provides wireless services through its subsidiary Cricket Wireless, had $2.8 billion of net debt as of April 15,...
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