Check all the details.... now he recants, and the blogs remove him from author.. LOL. Woops... better get a lawyer.
November 19, 2007, 12:28 pm
Update: Report AT&T Deal For EchoStar Possible This Week; Price Seen At $64-$68 A Share
Posted by Eric Savitz
EchoStar (DISH) shares have extended their morning rally, on a report from TheStreet.com asserting that a deal for AT&T to buy the company could be announced this week. The story said the deal would come between $64 and $68 a share.
As noted earlier, Barron’s asserted over the weekend that a deal could be in the works. Also, as I reported previously, Citigroup today upped its rating on the stock to a Buy from Hold, and repeated its belief that there is a 65% chance AT&T buys EchoStar within 12 months.
EchoStar is now up $8.76, or 22%, at $48.59.
then....
November 19, 2007, 3:59 pm
AT&T and EchoStar: Reasons to be Skeptical
Posted by Dana Cimilluca
In spite of market speculation that has driven up EchoStar shares more than 20% today, no deal between AT&T and EchoStar is imminent, people familiar with the matter tell us.
One person close to AT&T says the two sides aren’t even talking about an M&A deal at the moment. What is more, it still isn’t clear that any bankers have been hired to arrange the long-anticipated deal or that AT&T has decided to go after EchoStar and not DirecTV.
Of course, these conditions can always change at a moment’s notice. But from what we can divine so far, enthusiasts of an EchoStar acquisition may not feel much gratitude this Thanksgiving.
One stumbling block to a purchase of EchoStar is the dismal earnings report the company turned in the week before last. The resulting plunge in the stock will make Charlie Ergen, EchoStar’s chairman and controlling shareholder, an even more reluctant seller than he has been in the past, says one person familiar with his thinking.
Of course, that drop was erased by today’s stock move, but don’t expect the stock to hold up for too long at that level in the absence of a deal soon.
Representatives for the companies declined to comment.
... the orignal author was Eric Savitz... then author replaced a few minutes ago...
