Metro PCS Makes Purchase Offer for Leap Wireless

MetroPCS has made an offer for Leap Wireless, the parent company of regional carrier Cricket in the amount of $5.12 billion in stock based on current share price and amount of outstanding shares.

If the offer is approved at the current 2.75 shares of stock rate offered for every share of Leap Wireless, MetroPCS would own approximately 65.4% of the company, giving them a controlling stake in the combined company.

This would reduce costs and overhead, help the combined company gain a wider marketshare, and own operations licenses in the top 200 U.S. markets.

The deal has yet to be approved by shareholders and the appropriate regulatory bodies.