NewsRocket Fuel Board Turns Down Unsolicited, Conditional Acquisition Bid by Gravity4

Rocket Fuel, the premier programmatic marketing platform services provider, which leverages artificial intelligence at the scale of Big Data to enhance marketing returns on investment for enterprise marketers and global agencies, corroborated that it has turned down an unsolicited and conditional acquisition bid from rival Gravity4. The Board at Rocket Fuel - adhering to its fiduciary obligations and consulting with its individual independent advisors - conducted an evaluation of the proposal and rejected it on the grounds that it was full of conditions and at odds with the accepted business norms of transactions for public companies.

This release featured the following letter by Rocket Fuel in response to the acquisition bid by Gravity4:

“
Dear Mr. Chahal,

We are in receipt of your letter dated August 30, 2015 regarding your unsolicited proposal to acquire Rocket Fuel (“August 30thProposal”). The August 30th Proposal is identical, except for the date and proposed “purchase price”, to Gravity4’s May 7, 2015 proposal to Rocket Fuel. Our Board of Directors evaluated the May 7, 2015 proposal with its independent advisors and concluded at that time that the highly conditional and non-customary nature of the proposal did not constitute a credible offer. Rocket Fuel’s Board of Directors has reviewed your August 30th Proposal in consultation with its independent advisors, and concluded that the highly conditional and non-customary nature of the August 30th Proposal does not constitute a credible offer.

Sincerely,

Monte Zweben

Interim Chief Executive Officer
”