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EU to Make Decision on Amazon’s iRobot Acquisition by Valentine’s Day

By  |  October 30, 2023

European Union (EU) antitrust regulators have set a new deadline for their decision regarding Amazon’s proposed $1.4 billion acquisition of iRobot, a well-known robot vacuum maker. According to sources cited by Reuters, the EU competition enforcer is expected to announce its decision on February 14th of next year.

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    This decision comes after the EU temporarily halted its investigation into the acquisition back in August, citing the need for additional information. The original deadline for the EU’s decision was set for December 13, but it was extended to allow for a more comprehensive evaluation of the deal.

    Source: EU Sends Amazon’s $1.65 Billion Bid To Buy iRobot For In-Depth Probe

    The EU’s competition watchdog has expressed concerns that the acquisition might have adverse effects on competition within the robot vacuum cleaner market. Furthermore, they worry that it could further solidify Amazon’s already dominant position as a leading online marketplace provider.

    In a twist that occurred earlier this year, Amazon decided to reduce the purchase price for iRobot by approximately 15%. The initial deal was valued at $1.4 billion, but Amazon subsequently adjusted the price to around $1.42 billion due to iRobot’s increased debt burden. iRobot is renowned for its Roomba line of robotic vacuum cleaners.

    Source: Reuters