Rocket Lab to Buy Iridium in Challenge to SpaceX

Rocket Lab announced it will acquire Iridium Communications for $54 per share in a transaction combining cash and stock. Iridium operates a satellite communications network that provides telephone and messaging services. The acquisition combines two companies operating in the satellite and space services sector. Rocket Lab is a launch services provider, while Iridium operates satellites in orbit. The deal values Iridium at approximately $3.2 billion based on the per-share price.

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