Fitbit denies mysterious takeover bid

Fitbit has denied receiving a takeover bid after a little-known Chinese fund made a regulatory announcement purporting to describe a $2.8bn offer for the fitness tracker maker. In a filing that appeared on the US Securities and Exchange Commission’s website on Thursday, ABM Capital said it had written a letter to Fitbit’s management offering to buy all outstanding shares for $12.50 each. Fitbit’s shares rose as much as 5% to $9.27 in higher-than-average volume following the SEC filing, according to the Financial Times. However, some traders immediately questioned the veracity of the of the offer, given the mysterious bidder, and about two hours later, Fitbit said no such letter had been received.