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  • 2 years ago
The European Union's antitrust regulator intends to block Amazon's $1.4 billion acquisition of iRobot, the maker of Roomba vacuums, according to a report. The EU Commission informed Amazon of its likely decision during a meeting on Thursday about the proposed deal. Amazon had not offered remedies to address the regulator's concerns that the deal could reduce competition and reinforce Amazon's dominance in e-commerce. Regulators are increasingly worried big acquisitions could give a few companies too much access to customer data and control of certain markets. iRobot shares plunged over 35% in premarket trading on Friday.
Transcript
00:00 It's Benzinga and here's what's on the block.
00:02 The European Union's antitrust regulator intends to block Amazon's $1.4 billion acquisition of
00:07 iRobot, the maker of Roomba vacuums, according to a report. The EU Commission informed Amazon
00:12 of its likely decision during a meeting on Thursday about the proposed deal. Amazon had
00:16 not offered remedies to address the regulators' concerns that the deal could reduce competition
00:20 and reinforce Amazon's dominance in e-commerce. Regulators are increasingly worried big
00:24 acquisitions could give a few companies too much access to customer data and control of
00:28 certain markets. iRobot shares plunged over 35% in pre-market trading on Friday.
00:33 For all things money, visit Benzinga.com.
00:35 Ciao.
00:36 [BLANK_AUDIO]
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