IRDM

Iridium Communications is exploding higher following the announcement that Rocket Lab will acquire the company in an 8 billion dollar cash-and-stock deal. Under the terms of the agreement, shareholders are set to receive 27 dollars in cash per share plus a portion of stock, a move intended to integrate Iridium's satellite constellation with Rocket Lab's launch capabilities. While the acquisition has driven significant investor enthusiasm, multiple law firms have initiated investigations into the transaction to determine if the company is obtaining a fair price for its shareholders.