There are times when a bad deal is better than no deal at all. EchoStar Corp.’s recent offer to buy cash-strapped satellite operator Satélites Mexicanos S.A. de C.V., commonly known as Satmex, may well have been a case in point. The offer was $267 million in cash plus whatever was left over from Satmex’s $107 million in cash reserves once transaction fees were subtracted.
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