EchoStar Closes $2B Deal for Hughes Communications

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Satellite fleet operator EchoStar Corp. of Englewood, Colo., said June 8 that it had completed its $2 billion acquisition of satellite broadband provider Hughes Communications of Germantown, Md.

Under the terms of the deal, Hughes’ shareholders will get $60.70 per share, a 31 percent premium over what Hughes stock was worth on Jan. 19. EchoStar said it recently sold $1.1 billion of senior secured notes and $900 million of senior unsecured notes to finance the deal, which was announced in February.