FIT - Fitbit: Anti-Trust Investigations Could Ruin The Deal
Background
Alphabet (GOOG) (GOOGL) made headlines last October when it was reported that the company was in talks to purchase the fallen angel wearables company, Fitbit (FIT). Despite struggling on its own, Fitbit could prove to be an accretive asset to Google with its endeavors into the hardware business, particularly smartwatches, struggling to gain the same traction that competitors like Apple (AAPL) have achieved. Several days later, the take-private was confirmed by both parties at an acquisition price of $7.35 per share. Given the stock had previously traded at levels that hovered the $3 mark,