India, June 29 -- Shares of Iridium Communications (IRDM) surged 21% after Rocket Lab announced an agreement to acquire the satellite communications company in a cash-and-stock transaction valued at approximately $8.0 billion.
The stock is currently trading at $52.81, up $9.29 or 21.35%, on the Nasdaq. It opened at $51.76 after closing the previous session at $43.52. The stock has traded between $15.65 and $53.83 over the past 52 weeks.
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