Amazon's $1.7 Billion Takeover of iRobot Cleared by UK Regulator
16 June 2023 - 8:09PM
Dow Jones News
By Joe Hoppe
The U.K. Competition and Markets Authority on Friday said it has
cleared Amazon.com's proposed $1.7 billion acquisition of iRobot
Corp.
The regulator, which had launched an initial formal
investigation in April into the takeover of the Roomba maker,
concluded that the deal wouldn't lead to competition concerns in
the U.K.
The deal remains under regulatory review in other jurisdictions.
In September, iRobot said the U.S. Federal Trade Commission
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.
Write to Joe Hoppe at joseph.hoppe@wsj.com
(END) Dow Jones Newswires
June 16, 2023 05:54 ET (09:54 GMT)
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