CMA Probing Into Proposed Acquisition Of IRobot By Amazon

(RTTNews) - The UK's Competition and Markets Authority or CMA, said on Tuesday that it has launched a probe into the proposed acquisition of iRobot Corporation (IRBT) by Amazon.com Inc. (AMZN).

The market regulator is looking into whether the proposed merger will create a substantial reduction in the competition within any market or markets in the UK for goods or services.

The CMA has announced the launch of the investigation by notice to both companies on April 18.

The probe has a deadline of June 16 for its phase 1 decision.

On August 5, 2022, Amazon had announced a deal to buy consumer robot firm iRobot for $61 per share in an all-cash transaction valued at around $1.7 billion, including iRobot's net debt.