Rocket Fuel’s Board Rejects Unsolicited, Conditional Proposal
September 01 2015 - 12:30PM
Business Wire
Rocket Fuel (NASDAQ:FUEL), a leading programmatic marketing
platform provider that uses artificial intelligence (AI) at Big
Data scale to optimize marketing ROI for global agencies and
enterprise marketers, today confirmed that it has received and
rejected an unsolicited, conditional proposal from Gravity4 to
acquire Rocket Fuel.
Consistent with its fiduciary duties, the Rocket Fuel Board of
Directors, in consultation with its independent advisors, has
evaluated the proposal and concluded that the proposal, which is
highly conditional and inconsistent with customary public company
transactions, is not credible.
In May 2015, the Rocket Fuel Board of Directors rejected a
previously submitted unsolicited, conditional proposal from
Gravity4 to acquire Rocket Fuel.
Rocket Fuel sent the following response letter to Gravity4
today:
Dear Mr. Chahal,
We are in receipt of your letter dated August 30, 2015 regarding
your unsolicited proposal to acquire Rocket Fuel (“August 30th
Proposal”). 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
About Rocket Fuel
Rocket Fuel combines the science of Artificial Intelligence with
the scale of Big Data to improve the effectiveness of programmatic
marketing. Customers trust Rocket Fuel's Marketing That Learns™
technology to achieve brand and direct-response objectives in
diverse industries across North America, Latin America, Europe, and
APAC. Rocket Fuel offers a complete programmatic marketing platform
for the world's most innovative, always-on marketers. The platform
includes data management, programmatic media-buying, site
optimization, and predictive analytics capabilities that extend
across a marketer's paid and owned channels, and personalize every
customer interaction. Rocket Fuel operates in more than 20 offices
worldwide and trades on the NASDAQ Global Select Market under the
ticker symbol "FUEL."
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Investor Relations Contact:The Blueshirt GroupWhitney
Kukulka, 415-489-2187ir@rocketfuel.comorMedia Contact:Erica
Jacobs, 650-481-6178pr@rocketfuel.com
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