Rocket Lab to acquire Iridium in $8 billion deal

Rocket Lab announced on June 29 a definitive agreement to acquire satellite-communications operator Iridium for $54 per share - $27 in cash plus Rocket Lab stock, with an exchange-ratio collar of $67.50 to $112.50 - for an enterprise value of roughly $8 billion. The board-approved deal pairs Rocket Lab's launch and satellite-manufacturing businesses with Iridium's global L-band low-Earth-orbit network and its 2.5 million-plus subscribers, and is expected to close in mid-2027. Rocket Lab shares jumped about 16% and Iridium climbed roughly 25% on the news.