EU antitrust regulator intends to block Amazon's iRobot acquisition: Report
The Hindu
The EU’s competition watchdog plans to block Amazon.com’s $1.4 billion acquisition of robot vacuum maker iRobot, per a WSJ report.
The European Union's competition watchdog plans to block Amazon.com's $1.4 billion acquisition of robot vacuum maker iRobot, The Wall Street Journal said on Thursday, citing people familiar with the matter.
Shares of the Roomba vacuum maker plunged nearly 40% to $14.3 in trading after the bell.
WSJ reported that Amazon was informed during its meeting with European Commission's officials on Thursday that the deal was likely to be rejected.
Amazon declined to comment on the report.
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