Plans by Amazon and vacuum cleaner maker iRobot to merge have been abandoned following concerns that the move would harm competition.The $1.4bn (£1.1bn) deal, which was first announced in August 2022, had previously been approved by UK regulators. But in November the European Commission expressed concerns the online retailer might give iRobot's products preferential treatment on its website - ahead of rival vacuum companies - if the merger went ahead.Amazon confirmed on Monday that the deal had now collapse ...

Even as the artificial intelligence (AI) boom continues, some companies in the space are struggling. For iRobot (NASDAQ:IRBT), the future appears questionable at best. The company best known for producing the iconic Roomba vacuum has been trending downward for the past month, but recently, it has made three troubling announcements. To start, Amazon (NASDAQ:AMZN) has decided not to acquire the company due to regulatory concerns. But it only gets worse from there. iRobot is about to lay off more than 30% of i ...

Irobot (NASDAQ:IRBT) layoffs are coming for the Roomba company’s employees after its plans to be acquired by Amazon (NASDAQ:AMZN) fell apart.With the Amazon deal no longer moving forward, iRobot has revealed that it is laying off roughly 31% of its workers. That means about 350 of the company’s employees are losing their jobs.To go along with these layoffs, iRobot has announced that chairman and CEO Colin Angle is stepping down from the company. Now the company plans to focus on improving margins, reducing ...

Amazon has nixed plans to buy Roomba maker iRobot after the companies mutually determined the pending acquisition has “no path to regulatory approval in the European Union.”In a related announcement Monday, iRobot revealed that it would lay off about 350 employees, or 31% of its overall workforce, as part of a restructuring effort. Colin Angle will step down as chairman and CEO of iRobot, with chief legal officer Glen Weinstein stepping in as his interim replacement.The shock decision came after reports su ...

Announces Leadership Transition  Provides Preliminary Fourth Quarter Results; Schedules Conference Call for February 27, 2024 BEDFORD, Mass., Jan. 29, 2024 /PRNewswire/ -- Today, iRobot Corporation (NASDAQ: IRBT), a leader in consumer robots, announced that it will implement an operational restructuring plan designed to position the Company for stabilization in the current environment, while focusing on profitability and advancing key growth initiatives to extend its market share in the mid-tier and premium ...

Today’s price action has been impressive, particularly for certain beaten-down stocks. For example, shares of iRobot (NASDAQ:IRBT) stock are rocketing 8% higher today on news that BlackRock (NYSE:BLK) has increased its stake in the Roomba maker. This move is notable, considering that IRBT stock has lost roughly half of its value since the start of the year following a report that European Union (EU) regulators plan to block the company’s merger with Amazon (NASDAQ:AMZN). BlackRock’s increased position was n ...

Key PointsThe European Commission (EC) and the U.S. Federal Trade Commission have yet to rule on Amazon's proposed acquisition of iRobot since 2022.Rumors have surfaced that the EC and FTC plan to block the merger of Amazon and iRobot on potential anti-competitive practices that harm consumers.iRobot shares have fallen 53% in January 2024 as sentiment for the acquisition by Amazon at $51.75 (3x its current price) continued to dampen as IRBT shares traded at levels not seen since 2012.  5 stocks we like bett ...

Shares in cleaning robot maker iRobot (NASDAQ:IRBT) fell by nearly half after the European Commission said it intends to block its acquisition by Amazon (NASDAQ:AMZN).The refusal raised the specter of bankruptcy for iRobot. That fear also engulfed Spirit Airlines (NASDAQ:SAVE) after its merger with JetBlue (NASDAQ:JBLU) was rejected in the U.S.IRBT stock, which had been trading at $27.60 early on Jan. 18, opened this morning at about $16.94. That’s a market capitalization of just $465 million.Amazon was rep ...

Shares of iRobot (NASDAQ:IRBT) stock are taking a beating on Friday following news that its deal with Amazon (NASDAQ:AMZN) is running into trouble.Recent reports claim that the European Union’s (EU) regulators are likely to block Amazon’s purchase of iRobot over antitrust concerns. Insiders claim that Amazon was given this warning during a meeting with the EU on Thursday.EU regulators have until Feb. 14 to approve of or reject the deal between Amazon and iRobot. No matter what decision is made it will wrap ...

Shares of iRobot (IRBT -19.77%) fell 19.8% late Wednesday after Politico reported Amazon.com (AMZN 1.56%) will not offer concessions to European Union (E.U.) antitrust regulators as it works to clear its impending acquisition of the home robotics specialist.Amazon isn't backing down from antitrust regulatorsCiting two people familiar with the situation late this afternoon, Politico says Amazon and iRobot have until the end of the day today to present offers to the European Commission (EC) to make changes to ...