Yeah, we were disappointed when the Leap/Metro deal fell through, but we always thought talks would resurface. A source reports to Unstrung that the two sides are talking again. If true, they’re leaving the media out of it this time — at least to the extent it’s possible — which can do nothing but help.
This comes on the heels of Metro’s third quarter results, which fell short of expectations. We suppose, though we didn’t see any reports confirming it, that Leap performed similarly in the third quarter. It appears that if either company is to get this done, they’ll be getting it done together.
Metro is rumored to be upping their bid, from 2.75 shares for each share of Leap to over 3 shares. We’re not sure exactly what that means, but our rudimentary math is good enough to realize that 3 is bigger than 2.75. Woo hoo! Who says you don’t retain anything you learn in school?
The rumors also say that the deal could be wrapped up in two weeks. That we doubt; things like this tend to drag out, even if both parties want to get it done. But just hearing these talks makes us a bit happier.
[Unstrung]]]>
