2023-04-18 07:31:24 ET
The British Competition and Markets Authority announced the commencement of a Phase 1 probe into Amazon’s ( NASDAQ: AMZN ) planned buyout of iRobot Corp ( IRBT ).
The initiation of the investigation follows an invitation to comment opened on April 6 . The authority said that “the deadline for the CMA to announce its decision whether to refer the Merger for a Phase 2 investigation is therefore 16 June 2023.”
Amazon previously told Seeking Alpha that it is “working cooperatively with the relevant regulators in their review of the merger.” The deal is also under scrutiny in the US as the FTC is said to be preparing a lawsuit to block the deal . Per the Financial Times, the European Union is also likely to start a formal investigation .
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UK regulators start probe of Amazon’s iRobot acquisition