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Technology Stocks : iRobot Corp.

IRBT 3.300

+0.8%

Mar 21 3:59 PM EDT

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To: Glenn Petersen who wrote (86)	11/26/2023 10:50:08 AM
From: Glenn Petersen	of 88

iRobot shares close up 39% on report Amazon deal set to get EU approval PUBLISHED FRI, NOV 24 20231:13 PM EST UPDATED FRI, NOV 24 20231:57 PM EST Todd Haselton @ROBOTODD CNBC.com KEY POINTS Shares of iRobot, the maker of Roomba vacuums, closed up about 39% Friday after a report said the European Union is set to approve Amazon’s acquisition of the company. Reuters said Thursday morning the deal is set to “win unconditional EU antitrust approval,” citing three sources. The deal is still under review by the U.S. Federal Trade Commission. Shares of iRobot, the maker of Roomba vacuums, closed up about 39% Friday after a report said the European Union is set to approve Amazon’s $1.7 billion acquisition of the company. Reuters said Thursday morning the deal is set to “win unconditional EU antitrust approval,” citing three sources familiar with the matter. The European Commission is expected to rule on the deal by Feb. 14. Representatives from the European Commission didn’t immediately respond to CNBC’s request for comment. The deal is still under review by the U.S. Federal Trade Commission. The U.K.’s Competition and Markets Authority said in June the deal would not result in “a substantial lessening of competition” in the U.K. Amazon shares were flat. Amazon announced its intention to acquire iRobot in August 2022 for $61 a share in an all-cash deal. The acquisition marks Amazon’s fourth-largest deal, behind its $13.7 billion purchase of grocery chain Whole Foods in 2017, its $8.45 billion purchase of film studio MGM in 2021 and its $3.9 billion acquisition of boutique primary-care provider One Medical, announced last July. — CNBC’s Annie Palmer contributed to this report. iRobot stock up 39% on report Amazon deal set to get EU approval (cnbc.com)

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