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iRobot shares close up 39% on report Amazon deal set to get EU approval

iRobot’s Roomba.

Source: iRobot

Shares of iRobot, the maker of Roomba vacuums, closed up about 39% Friday after a report said the European Union is ready to approve Amazon’s $1.7 billion acquisition of the corporate.

Reuters said Thursday morning the deal is ready to “win unconditional EU antitrust approval,” citing three sources acquainted with the matter. The European Commission is anticipated to rule on the deal by Feb. 14.

Representatives from the European Commission didn’t immediately reply to CNBC’s request for comment.

The deal continues to be under review by the U.S. Federal Trade Commission. The U.K.’s Competition and Markets Authority said in June the deal wouldn’t lead to “a considerable lessening of competition” within the U.K.

Amazon shares were flat.

Amazon announced its intention to accumulate iRobot in August 2022 for $61 a share in an all-cash deal.

The acquisition marks Amazon’s fourth-largest deal, behind its $13.7 billion purchase of grocery chain Whole Foods in 2017, its $8.45 billion purchase of film studio MGM in 2021 and its $3.9 billion acquisition of boutique primary-care provider One Medical, announced last July.

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