Amazon: the EU would block the takeover of iRobot, which is plunging on Wall Street

Photo credit © UzirePictures

( — iRobot collapses 36% before market on Wall Street, while according to the Wall Street Journal, citing people familiar with the matter, the European regulator has decided to block the takeover of the designer of the Roomba robot vacuum cleaner. Amazon had offered $1.4 billion to get their hands on iRobot. Initial plans for this operation were revealed in August 2022, as the e-commerce giant sought to strengthen its portfolio of smart devices. The European Commission, European competition watchdog, has until February 14 to approve or not the transaction, but the matter seems compromised according to the WSJ, which indicates that Amazon was informed yesterday during its meeting with those responsible for the Commission that the agreement was likely to be rejected. The e-commerce giant would not have proposed any solution before the January 10 deadline to respond to the regulator’s concerns that the agreement could restrict competition in the robot vacuum cleaner market…


Source link -87