DISH Network Corp. (NASDAQ:DISH) drops its bid for the acquisition of Clearwire Corporation

0
1388

Boston, MA, 07/01/2013 (financialstrend) – DISH Network Corp. (NASDAQ:DISH) had recently dropped its bid for the acquisition of Clearwire Corporation, which had for long been at loggerheads with the other major competitor Sprint Nextel Corp. Having realized its defeat against the largest shareholder of Clearwire Corp. the company had decided to abandon the pursuit of this acquisition which marks the second major setback for DISH Network Corp. (NASDAQ:DISH) in its attempt to enter into the wireless communications market of the United States.

The last increase in bid price for the shares of Clearwire Corp was made by DISH Network Corp. (NASDAQ:DISH) on May 21, 2013 which was then fixed at $4.40 per share. However, the company could not withstand the battle when Sprint Nextel Corp had increased its bid further to $5.00 per share and thereby withdrew from the game.

Shares of DISH Network Corp. (NASDAQ:DISH) surged by 2.61 percent to close at $42.52 on Friday. The opening price for the stock was at $41.48 per share and thereafter fluctuated between $41.48 and $42.86 throughout the day. The 52 week low price of DISH Network Corp. (NASDAQ:DISH) is at $26.12 and 52 week high is readjusted to new value at $42.86 per share.

With around 454.67 million shares outstanding in the market, DISH Network Corp. (NASDAQ:DISH) presently has a market cap of $19.33 billion. The company had witnessed the trade on 6.07 million shares on Friday, which was huge compared to the average trading volume at 2.50 million shares per day. The institutional investors contribute to around 42 percent of the total capital of DISH Network Corp. (NASDAQ:DISH).

DISH Network Corp. (NASDAQ:DISH) is primarily engaged in providing pay television services across the United States and presently holds 13.967 million customers. The services provided by the company include wide range of local and national programming broadcasts of many national and high definition channels which are observed to be larger than the number of channels provided by other players in the market.

This report is for information purposes only, and is neither a solicitation or recommendation to buy nor an offer to sell securities. Financials Trend is not-a-registered-investment-advisor. Financials Trend is not a broker-dealer. Information, opinions and analysis contained herein are based on sources believed to be reliable, but no representation, expressed or implied, is made as to its accuracy, completeness or correctness. The opinions contained herein reflect our current judgment and are subject to change without notice. Financials Trend accepts no liability for any losses arising from an investor's reliance on the use of this material. Financials Trend sometimes gets compensated up to one hundred and fifty thousand dollars per month for featuring particular stocks. See site disclaimer for complete compensation. Financials Trend and its affiliates or officers currently hold no shares of these stocks. Financials Trend and its affiliates or officers will purchase and sell shares of common stock of these stocks, in the open market at any time without notice. Financials Trend will not update its purchases and sales of these stocks in any future postings on Financials Trend's websites. Certain information included herein is forward-looking within the context of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements concerning manufacturing, marketing, growth, and expansion. The words "may", "would," "will," "expect," "estimate," "anticipate," "believe," "intend," " project," and similar expressions and variations thereof are intended to identify for ward-looking statements. Such forward- looking information involves important risks and uncertainties that could affect actual results and cause them to differ materially from expectations expressed herein. *Financials Trend does not set price targets on securities. Never invest into a stock discussed on this web site or in this email alert unless you can afford to lose your entire investment.