Google Buying Fitbit is Not a Done Deal in 2020 [The Motley Fool]
FITBIT INC (FIT)
NASDAQ:AMEX Investor Relations:
investor.fitbit.com/overview/default.aspx
Company Research
Source: The Motley Fool
Google Buying Fitbit is Not a Done Deal in 2020 With a double-digit discount to a deal expected to close later this year, Alphabet's plan to acquire the wearables pioneer is no longer a slam dunk. Arbs are having a hard time figuring out how to play Alphabet 's ( NASDAQ:GOOG ) ( NASDAQ:GOOGL ) Google and its pending acquisition of wearables pioneer Fitbit ( NYSE:FIT ) . Fitbit stock traded as high as $7.26 the day that the $2.1 billion deal was announced more than three months ago -- within sweating distance of the $7.35 all-cash buyout price -- but it has been drifting lower ever since. The transaction that is expected to close later this year is no longer a sure thing, and the stock chart bears out the skepticism. Fitbit stock enters this new trading week at $6.64, closer to the $6.18 price it was at the day before the head-turning acquisition was announced than Google's proposed buyout price. You don't need to be a math whiz to know that the market has its doubts about this deal
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