Rocket Lab Outbids ASTS for $8B Iridium Deal, RKLB Jumps 16% on Monday

According to Stocktwits, Rocket Lab announced a surprise $8 billion cash-and-stock acquisition of Iridium Communications on Monday (June 29), outbidding other suitors including AST SpaceMobile, Viasat and Amazon. Rocket Lab will pay $54 per share, with the deal expected to close in mid-2027.

RKLB stock jumped 16% on Monday to close at $98.01, with overnight gains of 2% as Wall Street turned more bullish. Roth Capital raised its price target to $130 from $100 (implying 33% upside), while Stifel set a target of $132 (35% upside), citing Rocket Lab's newly combined capabilities in satellite design, manufacturing, launch and on-orbit services.