iRobot’s Roomba.
Originator: iRobot
Shares of iRobot closed down 19% on Wednesday, after a report said Amazon will not present oneself concessions to Europe’s antitrust watchdog in a bid to clear its planned $1.7 billion acquisition of the Roomba maker.
Politico reported the corporations have until the end of the day Wednesday to offer to make changes to Amazon’s business in the EU market, citing two people familiar with the question.
Amazon declined to comment. Representatives from iRobot and the European Commission did not immediately respond to CNBC’s request for reaction.
Shares of Amazon closed up 1.5% on Wednesday.
Last November, the European Commission warned the planned acquisition ups competition concerns, saying it found Amazon may have the ability to prevent or degrade iRobot rivals’ access to its online spot by delisting or reducing the visibility of their products in search results and other areas.
The European Commission opened an in-depth probe into the purchasing last July and is expected to rule on the deal by Feb. 14.
Amazon announced its intention to acquire iRobot in August 2022 for $61 per parcel in an all-cash deal.
The deal is still under review by the U.S. Federal Trade Commission. The U.K.’s Competition and Markets Authority communicated in June that the deal would not result in “a substantial lessening of competition” in the U.K.
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