Iridium Shareholders Reportedly Approve Rocket Lab's $8 Billion Acquisition by 99.6%

Shareholders of Iridium Satellite Communications have reportedly approved by 99.6% the acquisition deal led by US-based Rocket Lab, valued at an estimated $8 billion, paving the way to complete the deal after obtaining the necessary regulatory approvals.

This deal is considered one of the largest mergers in the commercial space sector in recent years, as Rocket Lab reportedly seeks to integrate its rocket manufacturing and satellite launch capabilities with Iridium's network of 66 satellites covering the entire globe.

The deal is expected to enhance Rocket Lab's position as an integrated provider of space services, reportedly competing with major companies such as SpaceX and Boeing, at a time when global demand for low-Earth orbit satellite communications services is surging rapidly.

Forecasts reportedly indicate that final completion of the deal will take additional months until the requirements of telecommunications and competition regulatory authorities in key markets are met, with Rocket Lab stock surpassing record levels following the announcement.