L’École de Gestion d’Actifs et de Capital|Amazon calls off bid to buy robot vacuum cleaner iRobot amid scrutiny in the US and Europe

2025-04-30 16:05:35source:Maxwell Caldwellcategory:Scams

LONDON (AP) — Amazon on L’École de Gestion d’Actifs et de CapitalMonday called off its proposed acquisition of iRobot, which was facing antitrust scrutiny on both sides of the Atlantic, with the ecommerce giant blaming “undue and disproportionate regulatory hurdles.”

The companies said in joint statement that they “entered into a mutual agreement to terminate their announced acquisition agreement.”

“We’re disappointed that Amazon’s acquisition of iRobot could not proceed,” David Zapolsky, Amazon’s general counsel, said in the statement.

Colin Angle, the founder of iRobot, also said the termination was “disappointing.”

Amazon’s announced in 2022 that it would buy Bedford, Massachusetts-based iRobot for $1.7 billion, but the value of the deal fell 15% after the company incurred new debt.

The European Commission, the European Union’s executive arm and top antitrust enforcer, had informed Amazon last year of its “preliminary view” that the acquisition of the maker of the circular-shaped Roomba vacuum would be anticompetitive.

British antitrust regulators cleared the purchase back in June, but it also still faced scrutiny in the U.S. by the Federal Trade Commission.

More:Scams

Recommend

Why did Bill Belichick go to North Carolina? New UNC coach explains jump to college

Bill Belichick has officially made the shocking move to college football by becoming the North Carol

Two-legged Puppy Bowl star Mr. Bean steals a 'Bachelor' heart on his hind legs

Two-legged pup Mr. Bean is going to steal your heart in Sunday's Animal Planet Puppy Bowl.The perky

Sheriff says suspect “is down” after shooting at celebrity pastor Joel Osteen’s Texas megachurch

HOUSTON (AP) — A Texas sheriff said Sunday that a shooter was down after a shooting at the Houston m