Amazon Misses EU Deadline for Concessions Over iRobot Deal

By Mauro Orru

Amazon.com skipped a Wednesday deadline to offer remedies to the European Union over its $1.7 billion acquisition of Roomba maker iRobot, after the bloc had raised concerns that the deal could stifle competition in the robot vacuum cleaner market.

The European Commission, the EU's executive arm, made its concerns known in November after conducting an in-depth investigation into the deal that was outlined in August 2022. The bloc sent Amazon a so-called statement of objections--a formal step to inform companies of objections raised against them.

Under EU merger procedures, the deadline for companies to submit remedies typically falls on working day 65 of a Phase 2 investigation--an in-depth analysis of the merger's effects on competition--meaning that Amazon had until Wednesday to do so.

When companies submit remedies, these are reflected on the EU's webpage for the deal in question. However, the webpage for the iRobot deal shows no remedies.

"We can confirm that the website is up to date," a spokeswoman for the European Commission said Thursday.

Amazon declined to comment. On Wednesday, iRobot shares plunged almost 20%, closing at $29.75.

The commission has until Feb. 14 to make a final decision on the deal.

Write to Mauro Orru at [e-mail]

(END) Dow Jones Newswires

January 11, 2024 05:59 ET (10:59 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.