Rocket Fuel Confirms Buyout Bid From Gravity4

MarketWatch Pulse

Rocket Fuel Inc.'s stock soared 18% in premarket trade Friday, prior to a trading halt, after the marketing technology company confirmed it received an unsolicited buyout bid from Gravity4 for $350 million in cash. Rocket Fuel advised its shareholders to take no action at this time, while it evaluates the high-frequency marketing company's proposal. The stock had tumbled 53% year to date through Thursday, while the S&P 500 has gained 1.4%. Rocket Fuel's stock is scheduled to resume trading at 9:50 a.m. Eastern.

Copyright © 2015 MarketWatch, Inc.

Continue Reading Below