EchoStar to buy Hughes Communications for $2 billion

BANGALORE – EchoStar Corporation says it will buy Hughes Communications Inc. for US$2 billion, including Hughes debt expected to be refinanced in connection with the transaction. The transaction will boost EchoStar’s ability to transport video and data.Under the terms of the transaction, EchoStar will pay Hughes shareholders $60.70 in cash for each of their shares. That's a 1.7% discount to Hughes's closing price on Friday—the stock has risen by more than 50% this year, amid reports that the company was looking to sell itself.The transaction is expected to close later this year, subject to certain closing conditions including receipt of...