Deals
EchoStar Climbs on Deal to Buy Hughes for About $1.32 Billion
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EchoStar Corp., a provider of television set-top boxes and satellite services, climbed in Nasdaq Stock Market trading after agreeing to buy Hughes Communications Inc. for about $1.32 billion.
Hughes shareholders will receive $60.70 a share without interest, a 31 percent premium over its closing share price of $46.43 on Jan. 19, the companies said today in a statement. Reuters reported Jan. 20 that Hughes was looking for a buyer.