TECH - Why Is IRobot Stock Trading Tumbling Friday? | Benzinga
IRobot Corp (NASDAQ:IRBT) stock is plunging Friday as reports indicate the European Union regulators are looking to scrap the Roomba vacuum cleaner maker’s merger deal with Amazon.Com Inc (NASDAQ:AMZN).
Amazon’s attempt to acquire iRobot will likely be rejected by the European Commission, as indicated during a recent meeting. This decision, pending official confirmation by February 14, requires approval from the Commission’s top political leaders, who rarely go against such recommendations.
Initially agreed in August 2022, the deal faces scrutiny over concerns that it could reduce competition in the robotic vacuum cleaner market.
The European Union’s investigation into ...