Why Amazon's Impending Acquisition of iRobot Is Bigger Than You Think
It's been a roller-coaster ride for (NASDAQ: IRBT) shareholders since the company agreed to be acquired by Amazon.com (NASDAQ: AMZN) nearly 15 months ago.
Shares of the home robotics company, best known for its Roomba line of robotic vacuums, soared nearly 40% last Friday after Reuters reported that Amazon was finally poised to receive unconditional European Union antitrust approval to complete the acquisition. On Monday, however, iRobot stock pulled back nearly 20% after the European Commission (EC) issued a "statement of objections" to Amazon, detailing its view that acquiring iRobot may restrict competition in the market for robotic vacuum cleaners (RVCs).
For perspective, this is only the latest in a long-running saga surrounding the deal. The EC opened an in-depth probe into the acquisition back in July 2023 and is expected to issue a final ruling by Feb. 14, 2023.
Source Fool.com
iRobot Corp. Stock
Currently there is a rather positive sentiment for iRobot Corp. with 4 Buy predictions and 0 Sell predictions.
With a target price of 50 € there is potential for a 495.24% increase which would mean more than doubling the current price of 8.4 € for iRobot Corp..
