Amazon has announced that it will not proceed with its planned acquisition of iRobot, the vacuum-maker. The two companies stated that there was no path to regulatory approval for the deal. As a result, iRobot will lay off 31% of its employees and its CEO will step down immediately. Shares of iRobot dropped by 10% following the news. The European Commission had launched an investigation into the proposed acquisition, expressing concerns that it could hinder competition in the robot vacuum cleaner market. Amazon will pay iRobot a $94 million breakup fee. Regulators worldwide have been scrutinizing large technology companies for potential anti-competitive effects.
https://www.cnbc.com/2024/01/29/amazon-terminates-irobot-deal-vacuum-maker-to-lay-off-31percent-of-staff.html