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iRobot shares plunge 19% on report Amazon won’t offer concessions to resolve EU probe

iRobot’s Roomba.

Source: iRobot

Shares of iRobot closed down 19% on Wednesday, after a report said Amazon will not offer concessions to Europe’s antitrust watchdog in a bid to clear its planned $1.7 billion acquisition of the Roomba maker.

Politico reported the companies have until the end of the day Wednesday to offer to make changes to Amazon’s business in the EU market, citing two people familiar with the matter.

Amazon declined to comment. Representatives from iRobot and the European Commission did not immediately respond to CNBC’s request for comment.

Shares of Amazon closed up 1.5% on Wednesday.

Last November, the European Commission warned the planned acquisition raises competition concerns, saying it found Amazon may have the ability to prevent or degrade iRobot rivals’ access to its online site by delisting or reducing the visibility of their products in search results and other areas.

The European Commission opened an in-depth probe into the purchase last July and is expected to rule on the deal by Feb. 14.

Amazon announced its intention to acquire iRobot in August 2022 for $61 per share in an all-cash deal.

The deal is still under review by the U.S. Federal Trade Commission. The U.K.’s Competition and Markets Authority said in June that the deal would not result in “a substantial lessening of competition” in the U.K.

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