{"id":88383,"date":"2023-11-24T13:38:34","date_gmt":"2023-11-24T18:38:34","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/irobot-stock-jumps-on-report-amazon-deal-set-to-win-eu-approval\/"},"modified":"2023-11-24T13:38:36","modified_gmt":"2023-11-24T18:38:36","slug":"irobot-stock-jumps-on-report-amazon-deal-set-to-win-eu-approval","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=88383","title":{"rendered":"iRobot Stock Jumps on Report Amazon Deal Set to Win EU Approval"},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-BAR-0000808435\">\n<div data-layout=\"wrap\n              \" data-layout-mobile=\"\" class=\"\n        media-object\n        type-InsetMediaIllustration\n          wrap\n  article__inset\n        article__inset--type-InsetMediaIllustration\n          article__inset--wrap\n    article__inset--lead\n  \"><\/p>\n<p>        <!-- eventually when we know what this card will be we can change it and leave this one --><\/p>\n<figure class=\"\n        media-object-image\n        enlarge-image\n        img-wrap\n        article__inset__image\n      \" itemscope=\"\" itemtype=\"http:\/\/schema.org\/ImageObject\"><\/p>\n<\/figure><\/div>\n<p>\n        Amazon<span>\u2019s<\/span><br \/>\n       penchant for vacuuming up smaller companies looks set to continue\u2014to the delight of<br \/>\n        iRobot<br \/>\n       investors.\u00a0<\/p>\n<p>The e-commerce and tech company\u2019s $1.4 billion deal to buy smart vacuum cleaner company<br \/>\n        iRobot<br \/>\n       (ticker: IRBT) is set to win full EU antitrust approval, Reuters reported.<\/p>\n<div class=\"paywall\">\n<p>Shares of the Roomba maker jumped 30% to $38.63 in premarket trading Friday following the report.<br \/>\n        Amazon<br \/>\n       announced the acquisition in August 2022. <\/p>\n<p>The initial agreement worked out to about $61 a share but the terms were revised in July to $51.75 a share after iRobot\u2019s net debt increased.<\/p>\n<p>Even with the 30% premarket jump, iRobot stock still sits considerably below that price, suggesting more gains could be ahead if the acquisition is cleared.<\/p>\n<p>The European Commission opened an antitrust investigation into the deal in July. The commission said it was concerned that the acquisition would allow<br \/>\n        Amazon<br \/>\n       to restrict competition in the market for robot vacuum cleaners, and strengthen its position in the market for online marketplace providers.<\/p>\n<p>It warned that Amazon could have the power and incentive to favor iRobot products to its rivals\u2019 in Amazon\u2019s marketplace.<\/p>\n<p>But the EU could be about to follow the U.K.\u2019s antitrust regulator, which cleared the deal in June concluding that it would not impact competition.<\/p>\n<p>Amazon stock edged 0.1% higher ahead of the open.<\/p>\n<p>Write to Callum Keown at callum.keown@barrons.com<\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/articles\/irobot-stock-amazon-eu-approval-report-4fd11168?mod=markets\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Amazon\u2019s penchant for vacuuming up smaller companies looks set to continue\u2014to the delight of iRobot investors.\u00a0 The e-commerce and tech company\u2019s $1.4 billion deal to buy smart vacuum cleaner company iRobot (ticker: IRBT) is set to win full EU antitrust approval, Reuters reported. Shares of the Roomba maker jumped 30% to $38.63 in premarket trading [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":88384,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-88383","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>iRobot Stock Jumps on Report Amazon Deal Set to Win EU Approval | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Amazon\u2019s penchant for vacuuming up smaller companies looks set to continue\u2014to the delight of iRobot investors.\u00a0 The e-commerce and tech company\u2019s $1.4\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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