Friday, September 7, 2007

Leap Wireless To Review MetroPCS Proposal

San Diego-based communications provider Leap Wireless said Friday morning that it will consider the unsolicited proposal the firm received earlier this week from MetroPCS. MetroPCS offered to buy Leap Wireless for roughly $5.4B in stock on September 4th. Leap said that it has engaged Goldman, Sachs & Co. and Jeffrey Williams & Co. as financial advisors on the deal. Separately, Leap said that its CFO, Amin Khalifa, has resigned from the company to pursue other interests, and CEO and President Doug Hutcheson will serve as interimn CFO.

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