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More Regulatory Watching For Amazon, $1.7B Proposed Purchase Of iRobot Attracts Atention – iRobot (NASDAQ:IRBT), Amazon.com (NASDAQ:AMZN) – Stocks to Watch
  • Tue. Apr 23rd, 2024
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More Regulatory Watching For Amazon, $1.7B Proposed Purchase Of iRobot Attracts Atention – iRobot (NASDAQ:IRBT), Amazon.com (NASDAQ:AMZN)

ByAnusuya Lahiri

Sep 21, 2022
More Regulatory Watching For Amazon, $1.7B Proposed Purchase Of iRobot Attracts Atention - iRobot (NASDAQ:IRBT), Amazon.com (NASDAQ:AMZN)

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  • Federal antitrust enforcers investigated Amazon.com Inc’s AMZN proposal to buy Roomba maker iRobot Corp IRBT.

  • Roomba dominates the smart vacuum market with a 75% market share by revenue in the U.S.

  • The FTC formally requested documents from both companies explaining the proposed $1.7 billion deal’s purpose and rationale, the Wall Street Journal reports.

  • A group of about 20 pro-privacy and worker organizations urged U.S. antitrust enforcers to stop the deal, citing concerns about privacy and Amazon’s already powerful position in the smart home devices market, Reuters reported.

  • Also Read: After Google, Meta Also Suffers EU Antitrust Setback

  • The FTC also examined Amazon’s $3.9 billion deal to buy 1Life Healthcare Inc.

  • The FTC took a skeptical view of the Big Tech acquisitions citing anticompetitive concerns. 

  • The FTC separately investigated Amazon’s Prime membership program.

  • Price Action: AMZN shares traded lower by 0.11% at $122.06 in the premarket on the last check Wednesday.

  • Photo by Jo Zimmy via Flickr

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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Image and article originally from www.benzinga.com. Read the original article here.

Anusuya Lahiri

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