Rocket Lab Jumps 6% as FCC Clears First Hurdle on Iridium Deal; Iridium Communications Barely Budges
Rocket Lab shares rallied about 6% after receiving a first-step regulatory clearance from the FCC on its planned acquisition of Iridium Communications. Iridium's shares barely moved in response to the same news.
Why it matters — IRDM watchers would care because the FCC's clearance is an early regulatory step in the acquisition process involving Iridium as the acquisition target.