iRobot shares plunge 19% on report Amazon won't offer concessions to resolve EU probe
iRobot shares plunge 19% on report Amazon won't offer concessions to resolve EU probe


iRobot’s Roomba.

Source: iRobot

Shares of iRobot closed down 19% on Wednesday, after a report stated Amazon won’t offer concessions to Europe’s antitrust watchdog in a bid to clear its deliberate $1.7 billion acquisition of the Roomba maker.

Politico reported the businesses have till the top of the day Wednesday to offer to make adjustments to Amazon’s enterprise within the EU market, citing two folks acquainted with the matter.

Amazon declined to remark. Representatives from iRobot and the European Commission didn’t instantly reply to CNBC’s request for remark.

Shares of Amazon closed up 1.5% on Wednesday.

Last November, the European Commission warned the deliberate acquisition raises competitors issues, saying it discovered Amazon might have the power to stop or degrade iRobot rivals’ entry to its on-line website by delisting or decreasing the visibility of their merchandise in search outcomes and different areas.

The European Commission opened an in-depth probe into the acquisition final July and is predicted to rule on the deal by Feb. 14.

Amazon announced its intention to purchase iRobot in August 2022 for $61 per share in an all-cash deal.

The deal continues to be underneath evaluation by the U.S. Federal Trade Commission. The U.Okay.’s Competition and Markets Authority said in June that the deal wouldn’t end in “a considerable lessening of competitors” within the U.Okay.

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