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PanAmSat's mixed year
The biggest loser in the deal Tuesday appeared to be PanAmSat, whose shares dropped $3.51 to trade at $15.55. EchoStar's shares rose $1.16, to $20.21, while Hughes' shares dropped 24 cents, to $11.06. EchoStar says it will take a writeoff of about $700 million in the fourth quarter to cover the breakup fee and other merger-related expenses.