iRobot

US4627261005

IRBT

IRBT

Amazon ($AMZN (-0.11%) )and iRobot ($IRBT (-0.34%) ) have agreed to cancel the planned takeover as there was "no path" to regulatory approval. iRobot announced it would lay off about 350 employees and the founder and CEO
Colin Angle would resign, according to CNBC & Bloomberg.

The company, originally valued at 1.7 billion US dollars valued at Amazon-iRobot deal was ultimately rejected due to European audits.

Amazon pays iRobot a "termination fee" of 94 million US dollars. The EU regulators had expressed concerns that the takeover would distort competition in the market for robot vacuum cleaners market.

iRobot announced that due to the restructuring work on devices outside its core products core products, such as air purifiers and lawn mowers will be discontinued.

$IRBT (-0.34%) what do you think about the share, which has already fallen a lot?

Purchase 2 from 2

Purchase 1 of 2

After the EU Commission announced its intention to suspend the planned takeover of iRobot ($IRBT (-0.34%) ) by Amazon ($AMZN (-0.11%) ), the $IRBT (-0.34%) share fell by more than 40% in post-market trading.

The European Commission already stated in November concerns about possible competition problems in connection with the 1.7 billion US dollars deal.

According to the Wall Street Journal the EU Commission on Thursday with representatives of Amazon about the takeover and signaled that it was likely to be rejected will be rejected.