EchoStar Corp. (SATS) Announces Completion of Hughes Communications Acquisition
EchoStar Corporation (NASDAQ: SATS) and Hughes Communications, Inc. (NASDAQ: HUGH) announced today the successful completion of EchoStar's acquisition of Hughes.
Under the terms of the transaction, Hughes' shareholders will receive $60.70 per share without interest, which represents a premium of 31% over Hughes' unaffected closing share price of $46.43 on January 19, 2011. The funding of the acquisition is being supported by the recent successful placement of $1.1 billion of senior secured notes and $900 million of senior unsecured notes.
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Under the terms of the transaction, Hughes' shareholders will receive $60.70 per share without interest, which represents a premium of 31% over Hughes' unaffected closing share price of $46.43 on January 19, 2011. The funding of the acquisition is being supported by the recent successful placement of $1.1 billion of senior secured notes and $900 million of senior unsecured notes.
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