Deadlines For Amazon/iRobot Agreement Extended by EU Regulators to February 14
Date : 30th October, 2023
THE SOIL – According to a regulatory filing, European Union (EU) antitrust regulators will determine by February 14 of next year whether to approve Amazon’s (AMZN.O) $1.4 billion acquisition of robot vacuum company iRobot (IRBT.O).
The EU’s competition enforcer put a temporary stop to its inquiry into the agreement in August in order to gather additional evidence. December 13 was the previous cutoff date for its decision about the deal.
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Amazon Has Already Received Warnings From EU's Competition Watchdog
Amazon has already received warnings from the EU’s competition watchdog that the acquisition might lessen competition in the robot vacuum cleaner sector and strengthen the US company’s leading position as an online marketplace provider.
Amazon reduced the amount it will pay iRobot in July to roughly $1.42 billion following the company’s increased debt. iRobot is the manufacturer of Roomba vacuum cleaners.
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