In response to the announcement that Amazon and iRobot have terminated their $1.4 billion merger agreement, Federal Trade Commission Associate Director for Merger Analysis Nathan Soderstrom issued the following statement:
“We are pleased that Amazon and iRobot have abandoned their proposed transaction. The Commission’s probe focused on Amazon’s ability and incentive to favor its own products and disfavor rivals’, and associated effects on innovation, entry barriers, and consumer privacy. The Commission’s investigation revealed significant concerns about the transaction’s potential competitive effects. The FTC will not hesitate to take action in enforcing the antitrust laws to ensure that competition remains robust. I would like to thank the Northeast Regional Office, which handled the investigation, and the entire FTC team, for their work on this matter.”
The lead staff attorneys on this matter were Jonathan Platt and Geralyn Trujillo in the Northeast Region.
Official news published at https://www.ftc.gov/news-events/news/press-releases/2024/01/statement-regarding-termination-amazons-proposed-acquisition-irobot
Images courtesy of PixaBay