Facebook was acting as “Party A” to obtain a bit and stood against Google.
According to details, it was revealed in SEC filling that Facebook was participating as “Party A” to obtain health wearable maker Fitbit. That included a handsome price of $7.30 per share.
Google also announced its purpose to get Fitbit for about $7.35 per share or $2.1 billion cash on first of November. One of the people involving in this matter has said that as Google has now agreed to purchase the bit, Facebook does not intend to bit again and consider the sale procedure as comprehensive.
Fitbit CEO James Park met the CEO of Party A at a dinner on 11th June 2019. He discussed the wearables technology landscape. Sources revealed that the CEO of party A would be Mark Zuckerberg. According to Filling, both Park and Mark met again at a dinner on 2nd July along with other members of Fitbit’s senior management. According to filling, they both had a meeting again in September.
Filling said that Facebook bit many times to obtain Fitbit, they considered $7.30 per share as the best and the final offer of the company.