Is it still good time to invest in fitbit ?
Fitbit is at $7.15 now. If I buy it now, will google buy from me at 7.35
Yes but the deal is not guaranteed to go through.
Yeah why take on even low risk for max. $.20 /share (unless another bidder emerges) against risk of them not doing it and the stock plunging
Nope
Looks like the acquisition is almost official. Why do you think that might not go through? https://investor.fitbit.com/press/press-releases/press-release-details/2019/Fitbit-to-Be-Acquired-by-Google/default.aspx
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If it's less than $7.35 the price Google is buying for, then it's an easy arbitrage opportunity (assuming the acquisition goes through).
The reason it's not trading there is cause there's a chance it doesn't go through. It's not an arb.