Among the companies with shares expected to actively trade in
Monday's session is Leap Wireless International Inc. (LEAP).
AT&T Inc. (T) has agreed to buy much smaller rival Leap
Wireless for about $1.2 billion in cash, in a move aimed at shoring
up the telecom giant's access to the airwaves it needs to offer
mobile service. The deal values Leap shares at $15 each, a roughly
88% premium to the company's closing price Friday. Shares more than
doubled to $17.27 after hours.
Watchlist:
Rally Software Development Corp. (RALY) and its venture capital
backers are offering $70 million in stock, taking advantage of a
jump in the business software maker's share price since its April
IPO. Rally said it is offering the shares, in part, to increase its
public float, which stands at just 39% of the shares outstanding,
according to FactSet.
Starboard Value LP, the activist hedge fund that owns a big
stake in Smithfield Foods Inc. (SFD), is hiring advisers to help
press its case for a different deal for the pork producer than one
already agreed to with China's Shuanghui International Holdings
Ltd. (SIHL.YY), according to a report from The Wall Street
Journal.
Tellabs Inc. (TLAB) has named Lawrence A. Rieger as its acting
chief financial officer.
Write to Nathalie Tadena at nathalie.tadena@dowjones.com
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