Amazon's iRobot Deal Draws Attention From UK Competition Watchdog

The Competition and Markets Authority is investigating the anticipated acquisition of Roomba maker iRobot Corp IRBT by Amazon.com, Inc AMZN.
The CMA is considering whether the transaction will substantially lower competition within any market or markets in the U.K. for goods or services.
To assist it with this review, the CMA invites comments on the transaction from any interested party.
In August 2022, Amazon.com agreed to acquire iRobot for $61 per share in an all-cash transaction valued at $1.7 billion. The purchase price implies a 22% premium to iRobot's August 4 closing price of $49.99.
In September, the FTC formally requested documents from both companies explaining the proposed $1.7 billion deal's purpose and rationale.
Roomba dominates the smart vacuum market with a 75% market share by revenue in the U.S.
The FTC also examined Amazon's $3.9 billion deal to buy 1Life Healthcare Inc and separately investigated Amazon's Prime membership program.
Price Action: AMZN shares traded lower by 0.17% at $100.73 in the premarket on the last check Thursday.
Photo via Wikimedia Commons

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