A potential bid for Mynaric, a Germany-based satellite laser specialist, from Rheinmetall AG has failed and Rheinmetall has withdrawn from the bidding process. This leaves RocketLab as the sole bidder and thus opens the door for Sir Peter beck’s RocketLab to move ahead with its purchase of the business.

The Rheinmetall bid was seen as being favoured by local politicians as providing a national solution for Mynaric.

RocletLab had offered $150 million (€129.7m) in an acquisition agreement that was struck in September last year following Mynaric’s move into, and subsequent exit from the German equivalent of Chapter 11 restructuring.

Mynaric is described as a critical supplier of optical inter-satellite links for satellite builders and in particular the US Space Development Agency.

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Categories: Articles, Business, M&A

Tags: mynaric, RocketLab