Smithen says that Leap is controlled by a few holders which could help be a catalyst to a deal, but also could make it harder to get done. The analyst says that to get done, a bid would have to be at least $10 a share to have a chance. The stock closed on Monday at $7.35. With T-Mobile beginning to move into the same regions covered by Leap in the second half of this year, it could cause the latter to more easily embrace a deal.
Leap closed out Q1 with 5,203,747 accounts, a drop of 16% year over year.
source: IBD via TmoNews