Dish Makes Bid for LightSquared2013-07-24 11:41 by DanielaTags: Dish, LightSquared
A subsidiary of Dish Network, L-Band Acquisition, has put forth a plan to purchase substantially all of the assets of LightSquared for $2.22 billion in cash, plus the assumption of some of LightSquared's liabilities, according to a filing Dish made today with the SEC. The latest offer is only for LightSquared LP, which holds the wireless assets. LightSquared Inc., headed by Falcone, owns about 96% of LightSquared LP's equity. LightSquared is one of the many wireless options that Dish's Ergen has pursued. Dish recently dropped its bids to purchase Sprint and Clearwire. As a stalking horse bidder, Dish's offer would serve as the base price in a future official auction of the assets. That would force Falcone to come up with an equal or better bid to retain the company. Read more -here-
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