Fitbit (FIT) Gains as ABM seeks Tender at $12.50/Share

November 10, 2016 11:05 AM EST

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Fitbit (NYSE: FIT) gained after an SEC filing by ABM Capital regarding a $12.50 tender.

This filing relates solely to preliminary communications made before the commencement of a potential tender offer by ABM Capital LTD ("Purchaser") for all of the outstanding Class A common shares, par value $0.0001 per share of FitBit Inc. (the "Company"). The Purchaser has announced today, November 9 2016, that it has submitted an offer (the "Letter") to the board of directors of the Company. In the Letter, the Purchaser proposes to acquire all outstanding Class A common shares at a price per share of $12.50 (the "Proposed Offer"). The Proposed Offer is subject to satisfactory due diligence and notification and the execution of a definitive written agreement.

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