Sullivan & Cromwell Reps EchoStar In $2B Hughes Deal

Law360, New York (February 14, 2011, 12:28 PM EST) -- Satellite broadcaster EchoStar Corp. said Monday it planned to pay nearly $2 billion for satellite broadband specialist Hughes Communications Inc. in a purchase that would beef up its broadband video and data capability.

Hughes shareholders would get $60.70 per share, a 31 percent premium over the company's Jan. 19 closing share price of $46.43, EchoStar said.

Jan. 19 was among the last days where Hughes stock could be purchased in the mid-$40s range, with news of a possible deal pushing shares past the $60 level on...
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