Amazon (AMZN) ends bid to acquire Roomba-maker iRobot (IRBT), citing ‘no path to regulatory approval in the European Union.’ As a result, iRobot announced it is cutting 350 jobs, about 31% of its workforce, and that Chairman and CEO Colin Angle will be stepping down. Yahoo Finance’s Seana Smith reports on January 29, 2024.
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Amazon doesn’t need to get any bigger
Amazon knows that if they wait to acquire the company that is in the process of collapsing, they stand to save a billion dollars on the acquisition.