Fitbit says time frame for Google deal close 'may extend beyond' 2020 [MarketWatch]
FITBIT INC (FIT)
NASDAQ:AMEX Investor Relations:
investor.fitbit.com/overview/default.aspx
Company Research
Source: MarketWatch
Fitbit Inc. disclosed in its second-quarter earnings report Wednesday that it while it still expects its merger with Alphabet Inc.'s Google to close before the year is up, it may not get all of its regulatory approvals for that deal before the end of 2020. The company's report comes a day after the European Commission said it would open an in-depth investigation into the deal over competitive concerns over Google's ability to use data collected from Fitbit wearables to make ad-targeting decisions. Google previously said it would silo some data from wearables and not use that for advertising purposes, but the E.C. said that it "considers that the data silo commitment proposed by Google is insufficient to clearly dismiss the serious doubts identified at this stage as to the effects of the transaction." It has 90 working days, or until Dec. 9, to make a decision. "While we still expect Fitbit and Google to secure the necessary regulatory approvals and to close the transaction in 2020, th
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