iRobot ticks lower as planned $1.65B sale to Amazon gets in-depth EU review
Justin Sullivan

iRobot (NASDAQ:IRBT) ticked down 0.4% after the robot vacuum cleaner's planned $1.65 billion sale to Amazon (NASDAQ:AMZN) received an in-depth review from European Union regulators.
The European Commission set a deadline of Nov. 15 to decide on the transaction, according to a statement from the antitrust regulator.
The news comes after Reuters reported late last month that the EC was set to open an in-depth probe into the planned acquisition of the Roomba vacuum maker, which sent iRobot (IRBT) shares down 8.3% on June 22. 
"The Commission will now carry out an in-depth investigation into the effects of the proposed transaction to determine whether its initial competition concerns are confirmed," the European Commission said in the statement.
Amazon (AMZN) responded to the EC in-depth review in a statement.
 "We continue to work through the process with the European Commission and are focused on addressing its questions and any identified concerns at this stage," an Amazon spokesperson said in the statement. "iRobot, which faces intense competition from other vacuum cleaner suppliers, offers practical and inventive products. We believe Amazon can offer a company like iRobot the resources to accelerate innovation and invest in critical features while lowering prices for consumers.â
News of a potential in-depth EC probe into the deal surprised some investors after the UK's antitrust regulator approved the transaction last month.
The European Commission said its preliminary review of IRBT/AMZN indicated that Amazon may have the "ability and incentive" to foreclose iRobot's rival by preventing them from selling robot vacuum cleaners on Amazon's online marketplace or by "degrading" their access through diffferent strategies.

iRobot (IRBT) received a second request from the Federal Trade Commission in September to do a more in-depth review of the Amazon (AMZN) deal. Amazon last month confirmed it filed substantial compliance with the FTC's second request.
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