EU Likely to Block Amazon's Acquisition of iRobot

Antitrust concerns over stifling competition in the robot vacuum market lead to a plunge in iRobot's shares.

Amazon's $1.4 billion acquisition of iRobot, the maker of Roomba robotic vacuum cleaners, is likely to be blocked by the European Commission due to antitrust concerns.
The EU's concerns center around the potential stifling of competition in the robot vacuum market, with fears that Amazon could foreclose iRobot's rivals or degrade their access to Amazon's online marketplace.
Following reports of the likely block, iRobot's shares plunged by 30%, trading at less than a third of the amended price that Amazon had agreed to pay.
Amazon had until January 10 to offer remedies to the EU's concerns but missed the deadline. The European Commission has until February 14 to make a final decision.
The block would be a setback for Amazon's plans to expand its smart home device portfolio and could have wider implications for future tech acquisitions.