Amazon.com failed to meet the deadline for submitting remedies to the European Commission regarding its proposed $1.7 billion acquisition of iRobot. The Wall Street Journal reports that the deadline for companies to provide remedies typically falls on the 65th working day of Phase 2 of the investigation, which would have been Wednesday. As of Thursday morning, the European Commission website had not been updated with any concession from Amazon.
Amazon declined to comment on the news but stated that it is working cooperatively with the relevant regulators during the review process of the merger. Both the European Commission and iRobot have yet to respond to requests for comment.
The European Commission has until Feb. 14 to make its final decision on the deal. The regulatory body initially raised concerns about the potential restriction of competition in the European market for robotic vacuum cleaners when it sent Amazon a statement of objections in November 2023.
If the acquisition is approved, it will further expand Amazon's range of smart products, which already includes the Alexa virtual assistant, Ring doorbells, and Smart thermostats.
Following initial reports that Amazon would miss the concession deadline, shares of iRobot fell by 20% on Wednesday. However, as of premarket trading on Thursday, Amazon's stocks were up 1% to $155.20 while iRobot's shares rose by 3% to $30.70.
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