Major Milestone Passed In Iridium/Rocket Lab Tie Up
Article excerpt
Highlighted: the sentence this signal was extracted from
This was a yay-or-nay poll on Rocket Lab's proposal to acquire Iridium. Such a deal would give the space company a set of unique telecom assets. 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. Missed AI's "Act 1"? Act 2 Could Be 15x Bigger. Most investors think they missed the AI boat because they didn't buy Nvidia in 2005. But according to our analysts, we're only at the end of "Act 1" - the R&D phase. "Act 2" is the global rollout. Continue » Image source: Getty Images. The terms of the deal stipulate that Iridium investors are to receive $27 in cash for each of their shares. They'll also be given a number of Rocket Lab shares, yet to be determined, to bring the payout up to the fixed acquisition price of $54 per share of Iridium...
Keep reading with a free account
The rest of this article, and every signal for Rocket Lab, is in your free account.
