iRobot shares close up 39% on report Amazon deal set to get EU approval

In this article

• AMZN
• IRBT

Shares of iRobot, the maker of Roomba vacuums, closed up about 39% Friday after a report said the European Union is set to approve Amazon's $1.7 billion acquisition of the company.

Reuters said Thursday morning the deal is set to "win unconditional EU antitrust approval," citing three sources familiar with the matter. The European Commission is expected to rule on the deal by Feb. 14.

Representatives from the European Commission didn't immediately respond to Our's request for comment.

The deal is still under review by the U.S. Federal Trade Commission. The U.K.'s Competition and Markets Authority said in June the deal would not result in "a substantial lessening of competition" in the U.K.

Amazon shares were flat.

Amazon announced its intention to acquire iRobot in August 2022 for $61 a share in an all-cash deal.

The acquisition marks Amazon's fourth-largest deal, behind its $13.7 billion purchase of grocery chain Whole Foods in 2017, its $8.45 billion purchase of film studio MGM in 2021 and its $3.9 billion acquisition of boutique primary-care provider One Medical, announced last July.

— Our's Annie Palmer contributed to this report.

Subscribe to Our on YouTube. 

Don't miss these stories from Our PRO:

• Michael Burry reveals new bet against chip stocks after closing out winning market short
• Warren Buffett's Berkshire trimming holdings, keeping new stock secret
• It's been 2 years since the Nasdaq hit a record and it's gone nowhere since
• Deutsche Bank says this electric flying vehicle stock will more than double in the next 12 months

Disclaimer: The copyright of this article belongs to the original author. Reposting this article is solely for the purpose of information dissemination and does not constitute any investment advice. If there is any infringement, please contact us immediately. We will make corrections or deletions as necessary. Thank you.