Chuan Chinese company plans to acquire smart bracelet developer Fitbit
According to foreign media reports, smart bracelet developer Fitbit said on Thursday that the company did not receive any offer. Earlier, a US Securities and Exchange Commission (SEC) document showed that a Chinese company intends to acquire some Fitbit shares. The SEC document shows that it is possible to issue a takeover bid for a Shanghai company called ABM Capital. ABM submitted the filing to the SEC in order to "initiate initial communication before launching the potential takeover offer." Fitbit said in a statement: "The company did not receive an offer from ABM or any other company."
The SEC filing shows that ABM intends to acquire all Fitbit Class A common stock at $12.50 per share. Class A common stock occupies 24% of Fitbit's voting rights. Before the stock was suspended, Fitbit's share price in early trading on Thursday was $8.41. Since the release of the disappointing third-quarter earnings last week, Fitbit's share price has fallen by 34%.
ABM does not seem to be really interested in acquiring Fitbit. Since last year, a number of companies have been exposed to SEC documents that may be acquired, including Kraft Heinz Foods, Avon, but ultimately proved to be a prank.
High-End Car Seats Substrate,Etching Flexible Substrate,Double-Sided Etching Flexible Substrate ,Flexible Substrate
SHAOXING HUALI ELECTRONICS CO., LTD. , https://www.cnsxhuali.com