Major Milestone Passed In Iridium/Rocket Lab Tie Up

Rocket Lab (NASDAQ:RKLB) and Iridium (NASDAQ:IRDM) have taken a significant step toward fusing their businesses together. Late Thursday afternoon, both companies announced in a joint press release that Iridium shareholders voted in favor of an acquisition by Rocket Lab. The "yes" vote was overwhelming, with voters representing 81% of Iridium's outstanding common shares in favor of the move.

The news came barely over two months after Rocket Lab and Iridium announced they agreed to what was termed a merger, which in reality is an acquisition by the former company. Let's go over the current state of the situation, and gaze into the crystal ball to see how it'll change the bulked-up Rocket Lab.

Image source: Getty Images.

Continue reading