Google buying Fitbit- Future and value of FIT stock?

What will happen to FIT? Will it get converted to GOOG? If I heard right, Google bought Fitbit at $7.35 per share; so now will FIT be around 7.35 or will keep fluctuating as normal?

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Fitbit D7aX4b Nov 3, 2019

Yes, FIT will probably trade at a slight discount to the $7.35 deal price until the deal closes.

Amazon Senõr SDE Nov 3, 2019

Isn't it a cash deal where Google pays 7.35/share to Fitbit shareholders.

Google jydgf OP Nov 3, 2019

Is it? So I should just keep my stock and I will get cash after some time?

Amazon Senõr SDE Nov 3, 2019

AFAIK Your broker would handle that, you don't have to do anything.

Google SundarGets Sep 28, 2020

Super high risk. If deal doesn't go through, fit is going to tank