Shares of ReachLocal Inc. jumped in the extended session Monday after Gannett Co. announced an agreement to buy the digital marketing company. ReachLocal shares, which had been briefly halted at $1.69, surged 169% to $4.55 after hours. Gannett said it is offering $4.60 a share, which works out to about $138 million based on shares outstanding. Gannett said the deal has a total enterprise value of $156 million. Gannett said it expects to close the deal in the third quarter.
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