Page 7 - Colin Angle News Today

Here are the most important news items that investors need to start their trading day.

The e-commerce giant wanted to buy the maker of Roomba, potentially cornering the robot-vacuum market. Then regulators sounded the alarm.

IRobot said Monday that a planned deal to be acquired by Amazon would not go through — a development that caused the Roomba floor vacuum maker to announce it would now lay off 31% of its staff.

LONDON — Amazon on Monday called off its proposed acquisition of iRobot, which was facing antitrust scrutiny on both sides of the Atlantic, with the ecommerce giant blaming “undue and disproportionate regulatory hurdles.” The companies said in joint statement that they “entered into a mutual agreement to terminate their announced

The two companies have agreed to terminate the proposed acquisition.

Amazon’s $1.4 billion deal to buy iRobot is off, iRobot CEO Colin Angle is stepping down, and the Roomba maker will lay off 350 people, or about 31 percent of its workforce.

Amazon has called off its purchase of iRobot, blaming "undue and disproportionate regulatory hurdles" after the European Union signaled its objection to the deal.

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

IRobot walks away with $94 million and a lot of questions about the future.

A deal that was originally announced in 2022 has fallen apart.