The folks at Leap Wireless are making sure they’ve covered their bases. The company, which has perpetually been the subject of takeover rumors, has taken measures to ensure that doesn’t happen. Phil Goldstein of FierceWireless lays out the details. They involve plenty of financial jargon, but the basic idea is that if any entity acquired 5 percent of Leap, or increases its stake to over 5 percent, Leap can then issue more preferred stock to its current shareholders, thereby diluting the shares and keeping the company safe from a takeover bid. That should buy them enough time to see if their new MVNO agreement with Sprint will work out.
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