iRobot Corporation (IRBT)

[eastunder]

IRBT rumor causing that drop on IRBT?

iRobot plunges to session lows amid Politico Pro story on Amazon deal

https://www.msn.com/en-us/money/companies/irobot-plunges-to-session-lows-amid-politico-pro-story-on-amazon-deal/ar-AA1mLPb0

iRobot (NASDAQ:IRBT) dropped to session lows, plunging 19%, amid a report about the planned sale to Amazon (NASDAQ:AMZN).

Amazon (AMZN) skips settlement offer with European Commission for iRobot deal, according to a posting on X from Politico Pro.

The drop comes as Wednesday is the deadline for the parties tp submit remedies to the European antitrust regulator for the planned purchase is Wednesday.

The maker of the Roomba robot vacuum and its planned buyer, Amazon (AMZN) have until Wednesday to submit remedies to the European Commission to try to get the authority to approve the deal.

An Amazon (AMZN) spokesperson declined to specifically comment on the EC remedy.

"We’re working cooperatively with the relevant regulators in their review of the merger," the Amazon spokesperson told Seeking Alpha in an emailed statement.
The European Commission warned in November, in a statement of objections, that it was concerned about the robot vacuum maker's $1.4 billion sale to Amazon (AMZN). The EC has until Feb. 14 to make a final decision on the transaction.

The European antitrust regulator announced in July that it opened an in-depth review into Amazon's (AMZN) purchase of the robot vacuum cleaner. The UK's antitrust regulator approved the transaction in June.

iRobot (IRBT) received a second request from the Federal Trade Commission last September to do a more in-depth review of the Amazon (AMZN) deal. Amazon in June confirmed it filed substantial compliance with the FTC's second request.