Dish Pulling Its Bid for LightSquared

[whitewolf8214]

Charlie Ergen can’t be excluded from the satellite TV company’s bid in LightSquared Inc.’s bankruptcy auction, a Nevada judge ruled in a shareholder lawsuit

Charlie Ergen, Dish Network Inc. (DISH)’s chairman and controlling shareholder, can’t be excluded from the satellite TV company’s bid in LightSquared Inc.’s bankruptcy auction, a Nevada judge ruled in a shareholder lawsuit http://www.bloomberg.com/news/2013-...rgen-from-lightsquared-bid-1-.html?cmpid=yhoo Please if wrong forum please move it and I apologize for it and thanks for moving it if needed!! Charlie wins one!!

 

[Dah-Henny]

Yhanks for the update.

 

[Tampa8]

Thanks!

 

[klang]

Can't recall a longer thread title.

 

[whitewolf8214]

Harbinger knocks Dish's bid for LightSquared's spectrum http://finance.yahoo.com/news/harbinger-knocks-dishs-bid-lightsquareds-212605817.html

 

[mike123abc]

Sounds like the fight is going to be nasty...

 

[whitewolf8214]

Sounds like the fight is going to be nasty...

Yes it does!!

 

[whitewolf8214]

Ergen Group May Drop LightSquared Bid, Lender Lawyer Says http://www.bloomberg.com/news/2014-...quared-bid-lender-lawyer-says.html?cmpid=yhoo

 

[MikeD-C05]

After all that fuss Charlie then drops out?

 

[navychop]

What is the "technical" matter?

 

[mike123abc]

What is the "technical" matter?

It technically interferes with GPS?

I would speculate that contracts or agreements Lightsquared has made that a buyer may have to deal with, are coming to light and could survive bankruptcy (i.e. deals LS may have made with the FCC).

 

[AntiMoz]

[h=1]Dish Pulling Its Bid for LightSquared[/h] [h=2]Letter of Termination of Bid Expected to Be Disclosed as Soon as Thursday Morning[/h]
By Emily Glazer


Jan. 8, 2014 9:47 p.m. ET
Dish Network Corp. is officially pulling its bid for LightSquared Inc., the telecommunications firm in bankruptcy that has wireless "spectrum" Dish has been coveting, according to a person familiar with the matter.
The reversal, after Dish last year put in a bid for $2.2 billion, marks the latest twist in the high-profile case, in which LightSquared has hit a number of speed bumps in its effort to emerge from bankruptcy.
Dish is expected to disclose its letter of termination of the bid as soon as Thursday morning, the person said.

 

[MikeD-C05]

I saw somewhere that if they pull their bid , that they can be sued for breach of promise or some rot. Either way, I am betting that this bid pulling issue will end of with Charlie in court AGAIN.

 

[whitewolf8214]

I saw somewhere that if they pull their bid , that they can be sued for breach of promise or some rot. Either way, I am betting that this bid pulling issue will end of with Charlie in court AGAIN.

Here is where you saw it http://www.satelliteguys.com/thread...da-judge-ruled-in-a-shareholder-lawsuit/page2

 

[Tampa8]

Either way, I am betting that this bid pulling issue will end of with Charlie in court AGAIN.

Talk about a safe bet.....

 

[Teehar]

Charlie in court?I thought he was sick of all these legal battles.

 

[Laddyboy]

I thought LS was like tots against Dish's offer in the first place.

 

[MikeD-C05]

I thought LS was like tots against Dish's offer in the first place.

The company was, but their share holders I think, are the one suing against Charlie over the loss of the bid.

 

[mike123abc]

The bondholders are threatening to sue if Dish pulls out since they will not get their money...

 

[whitewolf8214]

Dish Shares Drop After It Withdraws Bid for LightSquared http://dealbook.nytimes.com/2014/01...d-for-lightsquared/?partner=yahoofinance&_r=0 Interesting part of it.... The court appearance on Thursday is linked to Mr. Falcone’s lawsuit against Dish and Mr. Ergen, accusing the two of improperly acquiring LightSquared debt in hopes of gaining control over the broadband company.
It isn’t clear that Mr. Ergen — a shrewd, often inscrutable negotiator — is truly gone. Lawyers speculated in court that Dish may be trying a gambit to drive down the price for the broadband wireless provider, according to news reports.The move by Dish to drop its bid wasn’t unexpected. A lawyer for a group of LightSquared creditors said this week that Dish had raised concerns about a technical matter that would compel it to walk away.It also isn’t clear that Mr. Ergen can walk away. A group of lenders that has backed Dish’s bid reportedly may seek to compel the company to complete its takeover efforts.