Amazon's Planned $1.7 Billion iRobot Acquisition Faces In-Depth EU Probe
07 Julho 2023 - 3:07AM
Dow Jones News
By Ian Walker
The European Commission said late Thursday that it plans an
in-depth investigation into Amazon.com's proposed $1.7 billion
acquisition of iRobot as it believes the deal could restrict
competition in the market for robot vacuum cleaners.
The European Union's executive arm also said it believes the
deal will strengthen Amazon's position as an online marketplace
provider.
It now has until Nov. 15 to make a decision on the deal.
Last month, the U.K. Competition and Markets Authority cleared
the deal, saying that it wouldn't lead to competition concerns in
the U.K.
In September, iRobot said the U.S. Federal Trade Commission had
formally requested documents from both companies explaining the
deal's purpose and rationale. A securities filing by iRobot said
both companies would cooperate with the FTC's investigation.
After an investigation, which typically takes up to a year, the
FTC can sue to block a merger, seek concessions such as
divestitures or decline to take action, allowing a deal to
close.
"We're working cooperatively with the relevant regulators in
their review of the merger," an Amazon spokesperson said at the
time.
Amazon announced its acquisition of iRobot last August.
Amazon wasn't immediately available for comment when contacted
by Dow Jones.
Write to Ian Walker at ian.walker@wsj.com
(END) Dow Jones Newswires
July 07, 2023 01:52 ET (05:52 GMT)
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