America’s largest telecom provider, AT&T Inc., is hoping to present satellite
television company, EchoStar Communications, with an acquisition bid by the end
of this year, according to Barron’s financial magazine.
EchoStar shares fell more than 20% in the first half of November, potentially
making the company easier to acquire according to Barron’s.
In the past, AT&T has reportedly offered $65/share for the satellite TV
provider, which was said to be holding out for at least $75. Its shares closed
at a mere $39.83 on the NASDAQ Friday, but surged $47.49 yesterday on news of
AT&T’s renewed interest.
AT&T is apparently hoping to complete the EchoStar acquisition well before
the next U.S. presidential election, where a victory of the Democrats would
likely mean increased scrutiny of mergers and acquisitions.
“Pushing a deal of this size through the regulatory system takes time, so it
may have be done in a month or so, if it is to be done at all,” Barron’s