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International Business Times
International Business Times
Business
Alex PIGMAN

Amazon Scraps Buyout Of IRobot Vacuum Maker After EU Objections

Amazon iRobot European Union David Zapolsky United States
Roomba robot vacuums made by iRobot are displayed on a shelf at a Target store in San Rafael, California (Credit: AFP)

Amazon on Monday said it was dropping its plans to buy the iRobot vacuum maker after the EU's antitrust authority objected to the plan over competition concerns.

The news sent shares in iRobot into a tailspin, and the device maker followed the announcement of the failed deal with a restructuring plan that would see 350 jobs, or 30 percent of the company, laid off and the departure of its CEO.

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