iRobot Shares Sink on Report of EU's Plan to Block Amazon Acquisition
January 18 2024 - 5:11PM
Dow Jones News
By Dean Seal
Shares of iRobot sank on a report that Europe's competition
regulator intends to block Amazon.com's $1.7 billion acquisition of
the Roomba maker.
The stock fell 32% to $15.83 in post-market trading. Shares had
already fallen to a 10-year low of $23.62 at the close Thursday.
Amazon shares meanwhile were about flat with where they closed the
market.
The Wall Street Journal, citing unnamed sources, reported after
the bell that Amazon representatives met with officials from the
European Commission on Thursday to discuss the deal and were told
that it would likely be rejected.
Last week, Amazon missed a deadline to offer remedies to the
European Union for the acquisition following concerns from the bloc
about the deal stifling competition in the market for robot vacuum
cleaners.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
January 18, 2024 17:56 ET (22:56 GMT)
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