Amazon's $1.7 Billion Takeover of iRobot Cleared by UK Regulator

By Joe Hoppe

The U.K. Competition and Markets Authority on Friday said it has cleared Amazon.com's proposed $1.7 billion acquisition of iRobot Corp.

The regulator, which had launched an initial formal investigation in April into the takeover of the Roomba maker, concluded that the deal wouldn't lead to competition concerns in the U.K.

The deal remains under regulatory review in other jurisdictions. In September, iRobot said the U.S. Federal Trade Commission formally requested documents from both companies explaining the deal's purpose and rationale. A securities filing by iRobot said both companies would cooperate with the FTC's investigation.

After an investigation, which typically takes up to a year, the FTC can sue to block a merger, seek concessions such as divestitures or decline to take action, allowing a deal to close.

"We're working cooperatively with the relevant regulators in their review of the merger," an Amazon spokesperson said at the time.

Write to Joe Hoppe at [e-mail]

(END) Dow Jones Newswires

June 16, 2023 05:54 ET (09:54 GMT)

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