ASX:ASM 21 January 2026 - 26 January 2026

June 29, 2026, 10:59 PM EDT. Rocket Lab Corp. (NASDAQ:RKLB) shot up 15.93% and ended at $98.01 after announcing an $8 billion takeover of Iridium Communications Inc. The combined cash and stock deal puts Iridium's value at $54 a share, 24% over its previous close. Rocket Lab says it's moving to create an integrated space business by adding Iridium's satellite network to its launch services. CEO Peter Beck said the plan is to use Iridium's infrastructure alongside Rocket Lab's production and launch capability to go after more markets and build out space applications. Deal completion is targeted for mid-2027, pending shareholder and regulatory sign-off. Rocket Lab's push into satellite communications comes as the sector keeps consolidating.