Microsoft strongly encourages users to switch to a different browser than Internet Explorer as it no longer meets modern web and security standards. Therefore we cannot guarantee that our site fully works in Internet Explorer. You can use Chrome or Firefox instead.

Why Iridium Stock Soared Today

TheMotleyFool

0 0

Why Iridium Stock Soared Today: https://g.foolcdn.com/editorial/images/876867/space-stocks-gettyimages-155444603.jpg

Shares of Iridium Communications (NASDAQ: IRDM) surged on Monday after the satellite-based network operator agreed to be acquired by Rocket Lab (NASDAQ: RKLB).

Image source: Getty Images.

Under the terms of the deal, Rocket Lab would purchase Iridium for $54 per share in cash and stock. That represents a 24% premium over Iridium's closing price on Friday and values the space stock at roughly $8 billion.

Source Fool.com

Like: 0

IRDM

Share