Featured Articles

Apple iPad Air 2 costs $275 to build

Apple iPad Air 2 costs $275 to build

IHS has told Recode that the Apple iPad Air 2 16GB Wifi costs only $275 to build -- not bad…

More...
LG sells 16.8 million smartphones in Q3 14

LG sells 16.8 million smartphones in Q3 14

As Samsung is losing market share, another Korean company, which many had written off, is gaining.

More...
LG G Watch R EU price set at €299

LG G Watch R EU price set at €299

LG G Watch R is probably the best looking Android Wear device on the market and many have been waiting for…

More...
Nvidia GTX 970 SLI tested

Nvidia GTX 970 SLI tested

Nvidia recently released two new graphics cards based on its latest Maxwell GPU architecture, with exceptional performance-per-watt. The Geforce GTX 970…

More...
Gainward GTX 970 Phantom previewed

Gainward GTX 970 Phantom previewed

Nvidia has released two new graphics cards based on its latest Maxwell GPU architecture. The Geforce GTX 970 and Geforce GTX…

More...
Frontpage Slideshow | Copyright © 2006-2010 orks, a business unit of Nuevvo Webware Ltd.
Monday, 17 September 2007 08:29

Leap Wireless Board rejects bid

Written by David Stellmack
Image

MetroPCS denied

The Board of Directors of Leap Wireless International has voted unanimously to reject the unsolicited bid from MetroPCS Communications to purchase Leap Wireless. Leap’s Board indicated that the bid was not sufficient to cover the future growth value of the company.

According to analysts the offer was valued at 8 ½ times Leap's estimated earnings before interest, tax, depreciation and amortization, which was less than the 9 times EBITDA from  other recent industry deals.

While Leap and MetroPCS are competitors, the bid to merge was viewed by some as necessary to remain competitive with other larger U.S. mobile service providers. 

A combination of the two wireless companies would have created a provider with a presence in nearly all 200 U.S. markets, but its cumulative 6.2 million subscribers would still be far fewer than that those of the top U.S. mobile players.

Read more here.

Last modified on Monday, 17 September 2007 09:09

David Stellmack

E-mail: This e-mail address is being protected from spambots. You need JavaScript enabled to view it
blog comments powered by Disqus

 

Facebook activity

Latest Commented Articles

Recent Comments