Rocket Fuel Rejects Gravity4's Unsolicited Bid

Rocket Fuel has rejected the $350 takeover offer received by Gravity4 last week.

“We are in receipt of your letter dated May 7, 2015 regarding your proposal to acquire Rocket Fuel,” wrote Monte Zweben, interim CEO of Rocket Fuel in a letter to Gravity4’s founder and CEO Gurbaksh Chahal. “Our board of directors has evaluated your proposal in consultation with its independent advisors and concluded that the highly conditional and non-customary nature of your proposal does not constitute a credible offer.”

Chahal’s response to the rejection can be seen here.

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