FIT - Fitbit Inc.: The Arbitrage Spread May Sweeten In Time
On November 1, 2019, Fitbit, Inc. (NYSE: FIT), a provider of wearable fitness trackers for health and fitness enthusiasts, entered into an agreement to be acquired by Google LLC, a subsidiary of Alphabet Inc. (NASDAQ: GOOG) for $7.35 per share in cash. Currently, the arbitrage spread is approximately 12.2 percent, or 17.3 percent annualized. This makes for a terrific opportunity, but there are certain risks that must be assessed before making an investment.
Regulatory Approvals
The merger is conditioned on the following regulatory approvals:
- United States HSR Act;
- European Commission Merger Regulations;
- Australian