Billionaire Charlie Ergen’s decision to combine his two telecom companies, pay-TV provider Dish Network Corp. and satellite-communications company EchoStar Corp. in an all-stock deal sent their shares higher on Tuesday.The companies earlier confirmed a report by the Wall Street Journal... Billionaire Charlie Ergen’s decision to combine his two telecom companies, pay-TV provider Dish Network Corp. and satellite-communications company EchoStar Corp.
The exchange ratio is equal to a premium of 12.9% over the unaffected 30-day volume weighted average closing stock prices of the two companies on July 5, the last full trading day before media speculation regarding a potential transaction. “The transaction combines DISH Network’s satellite technology, streaming services and nationwide 5G network with EchoStar’s premier satellite communications solutions, creating a global leader in terrestrial and non-terrestrial wireless connectivity,” the companies said in a joint statement.
It’s expected to generate significant cost and revenue synergies and enhance free cash flow. “This is a strategically and financially compelling combination that is all about growth and building a long-term sustainable business,” said Ergen.Dish’ stock was last up 8% on Tuesday. As the following chart from data-as-a-service company BondCliQ Media Services shows, there was mostly net selling on Tuesday into the rally.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Herkunft: THR - 🏆 411. / 53 Weiterlesen »