Jan 19, 2023 update
iRobot (IRBT) stock fell almost 27% to $17.26 as its merger with Amazon looks dead. This week, the stock has fallen more than 50%. IRBT stock could drop to less than $10 if the deal is aborted.
- EU antitrust regulators are set to block Amazon’s $1.4 billion acquisition of robot vacuum maker iRobot.
- Amazon disregarded a warning from the European Commission regarding potential competition restrictions in the robot vacuum cleaner market and did not offer remedies to address the concerns.