Amazon Abandons $1.4 Billion iRobot Acquisition Amid Antitrust Objections

iRobot Announces Layoffs and Restructuring Plan Following Termination of Deal

Amazon has abandoned its $1.4 billion acquisition of iRobot, the maker of Roomba, due to antitrust objections raised by the European Union and the U.S. Federal Trade Commission.
iRobot's CEO, Colin Angle, has stepped down and the company announced it would lay off 31% of its staff.
iRobot's shares fell 19% to their lowest level since 2009 following the announcement.
Amazon must pay iRobot a $94 million termination fee, which iRobot plans to use to pay down debt.
iRobot plans to restructure, eliminating all non-floorcare products and subleasing parts of its corporate headquarters.