Amazon’s Deal for iRobot Gets Complicated by Antitrust Concerns
- Market prices in chances of deal closing between 55% to 65%
- Deal being scrutinized by FTC, EC after being cleared in UK
The robot-vacuum maker’s stock was whipsawed this week and now trades around $35, more than 30% below Amazon’s $51.75-per-share offer Tuesday.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
Traders are on edge about the outcome of Amazon.com Inc.’s proposed takeover of iRobot Corp. after a competition warning from Europe’s antitrust watchdog cast doubts on the deal’s path to closing.
The robot-vacuum maker’s stock was whipsawed this week and now trades around $35, more than 30% below Amazon’s $51.75-per-share offer Tuesday. The European Commission in Brussels smashed hopes for a straightforward approval in the region — initially reignited by a Reuters report — after issuing a so-called statement of objections.