Spartan Energy (SPAQ) Confirms Merger with Fisker Inc.

SPARTAN ENERGY /SH (SPAQ) stock is rising after confirming its merger with Fisker Inc. SPARTAN has reportedly agreed to acquire Fisker for $2.9 billion after rumors had been circulating that SPARTAN was leading the bidding war for Fisker Inc. with a deal for around $2 billion. The stock had seen a jump in price based off the rumors and has continued to rise after the official announcement. SPAQ was up over 17% in pretrading and was up 11% during trading on Friday. The deal is expected to provide the necessary funding for Fisker’s first product, the Fisker Ocean.