- The Competition and Markets Authority launched a phase one probe on Amazon.Com Inc's AMZN proposed acquisition of IRobot Corp IRBT.
- The deadline for the CMA to decide whether to refer the merger for a phase two investigation is June 16, 2023.
- The CMA is considering whether the transaction will substantially hamper competition within any U.K. market for goods or services.
- 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.
- In August 2022, Amazon.com agreed to acquire iRobot for $61 per share, implying a 22% premium to iRobot's August 4 closing price of $49.99.
- Price Action: IRBT shares traded lower by 0.27% at $41.28 on the last check Tuesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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