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iRobot Drops 18.8% After Amazon Acquisition Falls Apart

TheMotleyFool

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iRobot Drops 18.8% After Amazon Acquisition Falls ApartPhoto, wide shot, wide-angle lens, Telecom equipment supplier, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Michael Light: https://img.theapi.app/temp/ad10ed87-71d0-4096-a50b-ba9470f8264b.png

It's official: Amazon (NASDAQ: AMZN) has ended its pursuit of (NASDAQ: IRBT) more than a year after striking a deal to buy the company for $61 per share and ultimately agreeing to pay $51.75 per share after iRobot took on debt to fund operations.

This isn't entirely surprising given Amazon said it won't concede changes requested by the European Union. This likely ended any chance the E.U. would approve the merger.

There's no doubt this is a big blow to iRobot. Shares now trade for about 30% of the acquisition price, and investors need to reassess the business.

Source Fool.com