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1125 N. Charles St, Baltimore, MD 21201. If regulators aren’t breaking down the doors over at Apple, I’m not sure why they would block Alphabet’s acquisition of Fitbit.And one could very reasonably argue that Alphabet’s acquisition of Fitbit provides necessary competition to Apple in the smart devices space, and that such competition is actually a positive from an anti-trust perspective.Ahead of its fourth quarter earnings report, Fitbit stock is trading at a sizable discount to Alphabet’s all-cash takeover price. About Us Retirement
Fitbit shares have lost 1.8% so far this year as Alphabet's stock has gained 11% and as the S&P 500 has risen 2%. Returns as of 09/17/2020.
Consider that Thus, a combined Alphabet-Fitbit would still be way smaller than Apple.
"However, it's easy to see how the data privacy issue could hold up a deal at a time when social media and online advertising giants are under fire for their questionable marketing practices. quotes delayed at least 15 minutes, all others at least 20 minutes. I think this discount is far too big.By my estimation, this acquisition will clear regulatory hurdles within the next few months.
What have hedge funds been doing with Fitbit Inc (NYSE:FIT)? Copyright © 2020 InvestorPlace Media, LLC. It’s a very secure and stable offer to takeover Fitbit at $7.35 per share.Second, it should also be known that Fitbit shareholders overwhelmingly approved the deal, by a count of 415.2 million votes for the deal and just 1 million votes against it.
That’s more than a 10% discount to Alphabet’s all-cash offer price.Why the huge discount? When it does, shares of Fitbit will surge by than more 10% to the $7.35 takeover price.Fitbit stock trades at $6.50 today primarily over regulatory concerns surrounding Alphabet’s planned acquisition of the company.First, it should be stated that this is an all-cash acquisition from a company with a ton of cash, so there’s no risk of Alphabet not having the resources, or having to fund the acquisition with debt, or having the takeover price tied to Alphabet’s stock price.
Aug. 4, 2020 at 10:11 a.m. The stock nearly traded that high on the day the acquisition was announced, but it has been drifting lower lately. Or are they just for show and mostly noise?In short, Fitbit simply isn’t big enough, nor is Alphabet established enough in the smart devices market, to warrant regulators blocking this deal on the basis of Alphabet acquiring too much personal data from smart devices.Fitbit has 28 million active users in the world, selling just 3.5 million devices last quarter. Considering that data privacy has been a political hot topic recently, such concerns feel somewhat justified.But, justified to the point of a pricing in a 10%-plus discount into the stock?
May 2020: Fitbit Announces Atrial Fibrillation Study. And given that the fitness tracker and wearable markets have become a jumbled, commoditized mess, if anything, putting Fitbit into Alphabet's arsenal would likely lead to lower prices rather than higher ones.For now, this all leaves Fitbit trading at a surprisingly steep discount to the bid price of a deal that should close in a few months.
The company has managed to re-secure some semblance of a growth story, but its stock … 2020 InvestorPlace Media, LLC.
Since 1995, Rick has been writing for The Motley Fool, where he's a consumer and tech stocks specialist.
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