LONDON (AP) — Amazon called off its purchase of robot vacuum maker iRobot on Monday, blaming “undue and disproportionate regulatory hurdles" after the European Union signaled its objection to the deal.
The deal faced antitrust scrutiny on both sides of the Atlantic, but most strongly in Europe, where regulators investigating competition concerns were expected to issue a final decision by Feb. 14.
Amazon announced in 2022 that it would buy iRobot, maker of the circular-shaped Roomba vacuum, for $1.7 billion in cash.
Political Cartoons View All 253 ImagesWhile British antitrust regulators cleared the purchase in June, it also still faced scrutiny in the U.S. by the Federal Trade Commission.
This is the latest example of a deal involving U.S. companies that fell apart after facing scrutiny from European regulators.
Persons:
iRobot, David Zapolsky, Amazon’s, Colin Angle, Glen Weinstein, Haleluya Hadero
Organizations:
European Union, Amazon, European Commission, Federal Trade Commission, U.S, Adobe, Biotech, ___ AP
Locations:
European, Europe, Bedford , Massachusetts, U.S, EU, New York