Analysts: AT&T likely to bid for EchoStar Communications

Analysts: AT&T likely to bid for EchoStar Communications

Barron’s financial newspaper said that as per their expectations, telecom giant AT&T is likely to launch a bid for EchoStar Communications Corp before the end of the year.

EchoStar Communications is struggling with their stock taking a beating at the market. The shares have seen a drop of 24 percent in one month.

AT&T had made an offer in the past for around $65 a share. EchoStar rejected the offer and asked for a minimum price of $75 a share.

Their share price is hovering around $40 at the NASDAQ market.

The report further stated: “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.”