Why Iridium Stock Soared Today
Source: Motley Fool
2026-06-29 21:50:15 ET
Shares of Iridium Communications (NASDAQ: IRDM) surged on Monday after the satellite-based network operator agreed to be acquired by Rocket Lab (NASDAQ: RKLB) .
Image source: Getty Images.
Under the terms of the deal, Rocket Lab would purchase Iridium for $54 per share in cash and stock. That represents a 24% premium over Iridium's closing price on Friday and values the space stock at roughly $8 billion.
Iridium Communications Inc
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