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Amazon.com Inc. plans to take advantage of the opportunity to defend its planned purchase of Bedford-based iRobot Corp. (Nasdaq: IRBT) at a hearing with European Union officials later this month, according to a new report.
Reuters reported Tuesday that the hearing, which will take place behind closed doors, is slated for Dec. 18. The information is attributed to "a person with direct knowledge of the matter."
The hearing comes as a response to preliminary objections raised by European antitrust regulators two weeks ago regarding the potential negative impact of the $1.4 billion deal on competition in the market for robot vacuum cleaners.
Amazon has a chance to respond to the European Commission's objections by sending written responses or choosing to take part in a hearing. The EC's final determination on whether to oppose the deal is expected for Feb. 14 next year.
During the hearing, it is possible that Amazon offers potential remedies to EC's concerns. The EC has said that Amazon (Nasdaq: AMZN) "may have the ability and the incentive to foreclose iRobot's rivals by engaging in several foreclosing strategies."
A representative for Amazon on Tuesday declined to comment on the hearing, but added that the company is continuing to work through the process with the European Commission and is focused on "addressing its questions and any identified concerns at this stage."
iRobot did not respond to a request for comment.
Amazon announced plans to buy Roomba maker iRobot over the summer of 2022, but never offered a proposed closing timeline for the transaction. The deal had an initial price tag of $1.7 billion, later lowered to $1.4 billion, and is facing intense regulatory scrutiny both in the U.S. and internationally.
Revenue growth 2020 to 2022
| Rank | Prior Rank | Company |
|---|---|---|
1 | 1 | Foghorn Therapeutics Inc. |
2 | 2 | Amylyx Pharmaceuticals Inc. |
3 | 3 | Moderna Inc. |
