Dec. 4 at 12:11 PM
$IRBT $AMZN was ready to drop 1.7 billion all cash for useless thrash?
So commited they paid 94 billion break up fee
Amazon has abandoned its planned
$1.4bn (£1.1bn) acquisition of the robot vacuum cleaner company iRobot, amid EU opposition to the deal.
The e-commerce company will pay a
$94M break fee to iRobot, which immediately announced plans to axe 31% of its workforce – or 350 employees – and the departure of its chief executive.
The Wall Street Journal reported on 18 January that the EU’s executive arm was preparing to block the acquisition of the Roomba maker and had informed Amazon of its proposed view.
