Leap's Shareholders Approve AT&T Merger
Leap Wireless, the company that runs Cricket Wireless, today announced that its shareholders have approved of AT&T's proposed acquisition of the small network operator. "Stockholder approval is an important milestone on our path to completing the merger with AT&T. I'd like to thank the dedicated representatives from both companies who are working hard to complete the transaction," said Doug Hutcheson, Leap's chief executive officer. The purchase agreement includes all of Leap's assets, including 3,400 employees, 5 million customers, a CDMA and LTE network, and radio spectrum licenses covering 137 million people. AT&T has agreed to pay about $1.2 billion for Cricket and its assets. The deal is still subject to FCC and Department of Justice review.