Amazon’s $1.7 Billion Acquisition of iRobot Faces July 6 EU Antitrust Deadline

EU antitrust regulators will decide by July 6 whether to clear Amazon.com Inc’s $1.7 billion acquisition of the maker of robot vacuum cleaner iRobot Corp, according to a European Commission filing on Thursday.

U.S. online retailer Amazon announced the takeover in August last year that will boost its portfolio of smart devices which include Alexa voice assistant, smart thermostats, security devices, wall mounted smart displays and a canine-like robot called Astro.

The EU competition enforcer can either clear the deal with or without remedies after its preliminary review or it can open a four-month long investigation if it has serious concerns.

Read the source article at finance.yahoo.com