|
|
Article: ECHOSTAR TRIES NEW RUN AT RIVAL DIRECTV LITTLETON FIRM OFFERS THREE-QUARTERS SHARE FOR EVERY SHARE OF HUGHES ELECTRONICS.(Local)
- Article from:
- Rocky Mountain News (Denver, CO)
- Article date:
- August 6, 2001
- Author:
CopyrightCOPYRIGHT 2001 Rocky Mountain News. All rights reserved. Reproduced with the permission of Dialog LLC by Gale Group. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Byline: Steve Caulk News Staff Writer The Associated Press contributed to this report.
EchoStar Communications Corp. revived its hopes of purchasing rival DirecTV Sunday with a $32 billion bid for General Motors subsidiary Hughes Electronics Corp., setting up a clash of Denver billionaires.
EchoStar, based in Littleton, offered three quarters of a share of its own stock in exchange for each share of Hughes Electronics, which owns DirecTV.
The bid came just three weeks after EchoStar Chairman Charlie Ergen acknowledged that negotiations with Hughes Electronics' senior management had collapsed amid speculation that Hughes feared possible ...