By Chris Wack

Fitbit Inc. (FIT) shares jumped 38% to $5.96 on a report that Alphabet Inc. (GOOG) is buying the company.

A Reuters report Monday said the Google owner has made an offer to buy Fitbit, according to people familiar with the matter, but said negotiations may not lead to a deal.

Reuters said that the price offered by Alphabet for Fitbit couldn't be learned.

Write to Chris Wack at chris.wack@wsj.com

(END) Dow Jones Newswires

October 28, 2019 12:16 ET (16:16 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
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