Iridium shareholders approve Rocket Lab's $8bn buyout
What happened
Iridium's stockholders voted to approve Rocket Lab's $8 billion acquisition of the company on 24 September, with 99.6% of votes cast, representing 81% of outstanding shares, in favor. The vote was the deal's last shareholder-approval condition. Rocket Lab fully funded the acquisition earlier this month, replacing a bridge loan with permanent financing, and the companies still target a mid-2027 close pending regulatory approvals.
Read-across for SES
Rocket Lab will inherit Iridium's US government business. That includes Enhanced Mobile Satellite Services contracts SES and Intelsat General also compete to renew when the current agreement expires in March 2027. The merger folds a fourth major operator into this year's consolidation wave, alongside Amazon-Globalstar and Space42-Viasat, narrowing the field of independent operators governments and carriers can choose from.
As the brief filed it
[AGE: 7h] Iridium shareholders approved Rocket Lab's stock-and-cash acquisition of the company, with 99.6% of votes cast in favor. The deal clears its last shareholder hurdle, advancing a consolidation that will put Rocket Lab in control of US government satellite contracts SES competes for.