Update 3:40pm: Adds details from Politico Pro story.
iRobot (NASDAQ:IRBT) dropped to session lows, plunging 20%, amid a report that Amazon (NASDAQ:AMZN) won’t offer concessions in Europe to try to appease the antitrust regulator, according to a Politico report on Wednesday, which cited people familiar with the matter.
The drop comes as Wednesday is the deadline for the parties to submit remedies to the European Commission for the planned purchase is Wednesday.
An Amazon (AMZN) spokesperson declined to specifically comment on the EC remedy to Seeking Alpha earlier Wednesday. The EC’s press office didn’t immediately respond to Politico Pro’s request for comment.
“We’re working cooperatively with the relevant regulators in their review of the merger,” the Amazon spokesperson told Seeking Alpha in an emailed statement.
The European Commission warned in November, in a statement of objections, that it was concerned about the robot vacuum maker’s $1.4 billion sale to Amazon (AMZN). The EC has until Feb. 14 to make a final decision on the transaction.
The European antitrust regulator announced in July that it opened an in-depth review into Amazon’s (AMZN) purchase of the robot vacuum cleaner. The UK’s antitrust regulator approved the transaction in June.
iRobot (IRBT) received a second request from the Federal Trade Commission last September to do a more in-depth review of the Amazon (AMZN) deal. Amazon in June confirmed it filed substantial compliance with the FTC’s second request.