Rocket Lab announces acquisition of satellite service provider Iridium Communications, RKLB surges 12% in pre-market trading

Odaily reports that commercial aerospace company Rocket Lab (RKLB) has officially announced the acquisition of all outstanding common shares of Nasdaq-listed satellite service provider Iridium Communications at a price of $54 per share. This represents an enterprise value of approximately $8 billion for Iridium Communications.

Driven by this positive news, RKLB surged nearly 12% in pre-market trading, temporarily standing at $94.62. (Globenewswire)