The Board of Directors of Leap Wireless International rejected the unsolicited acquisition proposal from MetroPCS Communications. In a public letter, Leap said the proposal failed to take into account its "robust growth prospects" given its track record in entering new markets, while criticizing the slower pace of rollouts at MetroPCS. Leap also complained that the MetroPCS offer of $69.03 of value per share to LEAP shareholders represents a 14.4% discount to Leap's 60-day average trading price prior to the date of the proposal.In response, MetroPCS...
