KEY POINTS
  • iRobot shares plunged Monday after Europe's antitrust watchdog said Amazon's planned $1.7 billion acquisition of the Roomba maker raises competition concerns.
  • The European Commission said it found that Amazon may have the ability to prevent or degrade iRobot rivals' access to its online site.
  • The U.S. Federal Trade Commission is also probing the deal.

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Roomba robot vacuums made by iRobot are displayed on a shelf at a Target store in San Rafael, California, on Aug. 05, 2022.

Shares of iRobot plunged 17% Monday after the European Union's antitrust watchdog issued a warning that Amazon's planned $1.7 billion acquisition of the Roomba maker raises competition concerns.

The European Commission opened an in-depth probe into the purchase in July and is expected to rule on the deal by Feb. 14. In a statement Monday, the commission said it has informed Amazon of its "preliminary view that its proposed acquisition of iRobot may restrict competition in the market for robot vacuum cleaners."

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