The British competition regulator approved
U.K.’s ‘s $1.7 billion purchase of
the maker of smart vacuum cleaners.
Shares of iRobot (ticker: IRBT) skyrocketed 22% in premarket trading to trade at $51.40 on Friday. Shares of Amazon.com (AMZN) were largely flat.
The Competition and Markets Authority said it had cleared the acquisition after finding the “deal would not lead to competition concerns in the U.K” or put rivals at a disadvantage.
The iRobot deal, announced in early August, was an all-cash transaction for roughly $1.7 billion, including debt. iRobot designs and builds robot vacuum cleaners sold under the Roomba brand.
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