Rocket Lab Bets on Iridium to Build a SpaceX-Style Business – Merger Arbitrage Mondays

Iridium Communications Inc. (IRDM): $53.75

Market Cap: $5.68B

Deal Value: $8B

Rocket Lab Corporation (RKLB) entered a merger agreement on June 29, 2026, to acquire satellite communications ‌provider Iridium Communications in a deal valued at $8 billion, seeking to gain an edge by following SpaceX’s approach of building both its satellites and the rockets that launch them.

The transaction reflects the growing momentum in the space sector, where investor interest has surged since SpaceX (SPCX) raised about $86 billion in the world’s largest IPO last month.

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