Two years after AT&T's failed bid to acquire T-Mobile USA from German parent Deutsche Telekom, the telecommunications giant has once again turned to a team of lawyers from Sullivan & Cromwell, Arnold & Porter, and Crowell & Moring to advise on its proposed $1.19 billion cash buy of Leap Wireless, which is being advised by Wachtell, Lipton, Rosen & Katz.
AT&T announced on Friday that it has agreed to pay $15 a share for Leap, a prepaid cellphone service provider. That represents an 88 percent premium over Leap’s Friday closing price of $7.98 a share. The company’s stock soared on Monday to close at $16.95 a share.
