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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
Amazon called off its purchase of robot vacuum maker iRobot on Monday, blaming "undue and disproportionate regulatory hurdles."
Shares of iRobot Corporation (IRBT) are falling more than 10% Monday morning after the consumer robot company said its acquisition by Amazon is being cancelled..
Amazon's $1.4 billion acquisition of iRobot has been canceled, the two companies announced today, reports PR Newswire.
The $1.4bn (£1.1bn) deal collapsed after regulators in the EU and US expressed concerns it would give the vacuum cleaner maker an unfair advantage over its rivals. However, officials in the UK approved the bid.