IRDM
RKLB
Another law firm enters the chat
Rocket Lab’s proposed takeover of Iridium Communications is now getting the classic Wall Street side quest: a law-firm investigation. Kahn Swick & Foti says it’s digging into whether Iridium shareholders got a fair shake on price and process in the deal.
What’s actually being scrutinized?
Under the proposed transaction, Iridium shareholders are supposed to receive $27.00 in cash plus Rocket Lab stock, with the share count determined by an exchange ratio. That blend of cash and stock is nice in theory — until lawyers start sniffing around asking whether the board squeezed every last bit of value out of the buyer.
Why you should care
For Rocket Lab, this is less about day-to-day launches and more about the M&A story investors were just getting used to. Any investigation can add friction, delay, or headline risk, even if it never turns into a full-blown lawsuit.
For Iridium holders, the question is simpler: did management strike the best possible deal, or did they leave money on the table? In deal land, that’s the question that never really goes away.
Big picture: when a merger gets big enough, the bankers aren’t the only ones coming to the party — the plaintiff lawyers usually show up right after dessert.