Amazon.com did not submit compensation to the European Commission over its proposed $1.7 billion acquisition of iRobot by deadline.
According to the Wall Street Journal, the deadline for companies to submit remedies to the European Commission when considering a merger proposal typically falls on the 65th business day of the second phase of the investigation. That would have been Wednesday. As of Thursday morning, the European Commission’s website had not been updated with any concession from Amazon.
Amazon…
Amazon.com did not submit compensation to the European Commission over its proposed $1.7 billion acquisition of iRobot by deadline.
According to the Wall Street Journal, the deadline for companies to submit remedies to the European Commission when considering a merger proposal typically falls on the 65th business day of the second phase of the investigation. That would have been Wednesday. As of Thursday morning, the European Commission’s website had not been updated with any concession from Amazon.
Amazon declined to comment on the news, but regarding regulatory steps for the deal more broadly, the company said it was “working collaboratively with the relevant regulatory bodies in their review of the merger.”
The European Commission declined to comment on Baron. iRobot did not respond to a request for comment.
The European Commission has until February 14 to make a final decision on the deal.
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The European Commission initially sent Amazon a statement of objections to its proposed deal for the smart vacuum company in November 2023. In it, the European Commission said it was concerned that the deal would restrict competition in the European market for robotic vacuum cleaners.
If the deal goes through, it will expand Amazon’s smart product lineup, which includes the Alexa virtual assistant, Ring doorbells, and smart thermostats.
Amazon shares rose 0.6% on Thursday to $154.69. iRobot stock rose 4.3% to $31.03 after shares fell 20% on Wednesday following initial reports that Amazon would miss the franchise deadline.
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Write to Angela Palumbo at angela.palumbo@dowjones.com