Amazon has abandoned its purchase of robotics manufacturer iRobot. The company will pay $94 million in fines. The deal was estimated at $1.4 billion, but its progress faced disapproval from European Union regulators.
Amazon has finalized its deal to buy US robotics maker iRobot. This was reported by Amazon’s press service.
According to Bloomberg, the deal fell through due to regulatory disapproval in the European Union. The US Federal Trade Commission also intended to block the deal.
The deal between Amazon and iRobot was valued at $1.4 billion and now Amazon must pay $94 million in fines for terminating the deal.
Amid news of the deal termination, iRobot shares on the Nasdaq fell nearly 11%.
Author:
Kirill Bilyk
Source: RB
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