Leap Wireless (LEAP) Sees Interest As WSJ Discusses Takeover Rumors

Shares of Leap Wireless International Inc. (Nasdaq: LEAP) are seeing some interest today on reports from the Wall Street Journal discussing rumors that AT&T (NYSE: T) could make a takeover bid for the company. Shares are up 4% in early action.

The Journal notes that both companies canceled appearances at investment conferences.

The Journal said, "Investors might have overreacted. But Leap's contract-less, cheap plans have drawn solid subscriber growth. And, given AT&T's ravenous appetite for acquisitions, Leap, at $2.6 billion, is the equivalent of a wafer-thin mint."

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