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Rather than compromise with EU regulators, Amazon is walking away from a $1.7 billion deal to buy iRobot, sending the Roomba vacuum maker’s stock down roughly 7%.
Shares of iRobot tumbled as much as nearly 19% on news of the canceled deal. In 2022, Amazon announced that it would buy the Bedford, Massachusetts-based company for $1.7 billion in cash ...
Amazon and iRobot, the maker of the popular Roomba vacuum, have mutually called off an acquisition deal initially valued at about $1.7 billion, citing numerous regulatory hurdles.
[17] In July 2023, Amazon reduced the offer price to $1.42 billion after iRobot raised $200 million in new debt to fund its daily operations. [18] In January 2024, Amazon and iRobot announced they would end their plans to merge in the face of opposition from EU antitrust regulators. [4]
(Reuters) -IRobot shares slumped nearly 30% in early trading on Friday after a report the European Union antitrust regulator was planning to block Amazon.com's $1.4 billion buyout of the Roomba ...
iRobot said Monday that a planned deal to be acquired by Amazon would not go through — a development that caused the Roomba floor vacuum maker to announce it would now lay off 31% of its staff.
Amazon said it was pleased with the result. British antitrust regulators cleared Amazon’s purchase of robot vacuum maker iRobot on Friday, but the $1.7 billion deal still faces scrutiny in the ...
WASHINGTON (Reuters) -Amazon and robot vacuum maker iRobot said Monday they would end their plans to merge in the face of opposition from EU and U.S. antitrust regulators. iRobot announced a ...