Deal Disruption
iRobot Tesla plummets on reports that the EU is ready to ban the Amazon transaction.
iRobot (NASDAQ:IRBT) shares fell over 36% pre-market today after the Wall Street Journal reported that EU regulators are likely to prohibit Amazon’s (NASDAQ:AMZN) proposed acquisition of the company.
iRobot shares have fallen more than 60% since the beginning of the month.
Last week, it was revealed that Amazon had not provided any solutions to the EU antitrust regulators’ concerns about its proposed $1.4 billion acquisition of iRobot. The corporations had until January 10 to submit an offer to address European Union complaints.
In November, the European Commission’s competition officials issued a preliminary warning to Amazon. They stated that the acquisition could hinder competition in the robot vacuum cleaner business, indicating that they expect Amazon to provide remedies to address these concerns.
Spirit Airlines shares plummet as a court blocks the JetBlue purchase.
Spirit Airlines (NYSE:SAVE) shares fell more than 47% on Tuesday. This substantial dip came when a federal judge blocked JetBlue Airways’ (NASDAQ:JBLU) proposed $3.8 billion takeover of its low-cost rival. The judge determined that the combination would considerably diminish competition in the industry.
“JetBlue plans to convert Spirit’s planes to the JetBlue layout and charge JetBlue’s higher average fares to its customers,” said U.S. District Court Judge William Young in his judgment. “The elimination of Spirit would harm cost-conscious travelers who rely on Spirit’s low fares.”
Synopsys to acquire Ansys in $35 billion deal.
Shares of ANSYS (NASDAQ:ANSS) fell more than 5% on Tuesday after it was announced that Synopsys (NASDAQ:SNPS) would acquire the company for around $35 billion in cash and stock.
According to the acquisition agreements, stockholders of Ansys would get $197 in cash and 0.3450 shares of Synopsys for each Ansys share they own. This figure is based on Synopsys’ closing price as of December 21, 2023, bringing the enterprise value to around $35 billion.
The acquisition is expected to finalize in the first half of 2025.
Japan’s homebuilder Sekisui House will acquire MDC Holdings for $4.9 billion.
Sekisui House (OTC:SKHSY) and MDC Holdings (NYSE:MDC) have reached an agreement for the former to buy the latter in an all-cash deal. MDC shares rose more than 18% in response to the announcement.
According to the press statement, the transaction, valued at around $4.9 billion, will boost Sekisui House’s footprint in the US housing market.
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iRobot shares have fallen more than 60% since the beginning of the month.
Last week, it was revealed that Amazon had not provided any solutions to the EU antitrust regulators’ concerns about its proposed $1.4 billion acquisition of iRobot. The corporations had until January 10 to submit an offer to address European Union complaints.
In November, the European Commission’s competition officials issued a preliminary warning to Amazon. They stated that the acquisition could hinder competition in the robot vacuum cleaner business, indicating that they expect Amazon to provide remedies to address these concerns.
iRobot (NASDAQ:IRBT) shares fell over 36% pre-market today after the Wall Street Journal reported that EU regulators are likely to prohibit Amazon’s (NASDAQ:AMZN) proposed acquisition of the company.
iRobot shares have fallen more than 60% since the beginning of the month.
Last week, it was revealed that Amazon had not provided any solutions to the EU antitrust regulators’ concerns about its proposed $1.4 billion acquisition of iRobot. The corporations had until January 10 to submit an offer to address European Union complaints.
In November, the European Commission’s competition officials issued a preliminary warning to Amazon. They stated that the acquisition could hinder competition in the robot vacuum cleaner business, indicating that they expect Amazon to provide remedies to address these concerns.
iRobot (NASDAQ:IRBT) shares fell over 36% pre-market today after the Wall Street Journal reported that EU regulators are likely to prohibit Amazon’s (NASDAQ:AMZN) proposed acquisition of the company.
iRobot shares have fallen more than 60% since the beginning of the month.
Last week, it was revealed that Amazon had not provided any solutions to the EU antitrust regulators’ concerns about its proposed $1.4 billion acquisition of iRobot. The corporations had until January 10 to submit an offer to address European Union complaints.
In November, the European Commission’s competition officials issued a preliminary warning to Amazon. They stated that the acquisition could hinder competition in the robot vacuum cleaner business, indicating that they expect Amazon to provide remedies to address these concerns.
iRobot (NASDAQ:IRBT) shares fell over 36% pre-market today after the Wall Street Journal reported that EU regulators are likely to prohibit Amazon’s (NASDAQ:AMZN) proposed acquisition of the company.
iRobot shares have fallen more than 60% since the beginning of the month.
Last week, it was revealed that Amazon had not provided any solutions to the EU antitrust regulators’ concerns about its proposed $1.4 billion acquisition of iRobot. The corporations had until January 10 to submit an offer to address European Union complaints.
In November, the European Commission’s competition officials issued a preliminary warning to Amazon. They stated that the acquisition could hinder competition in the robot vacuum cleaner business, indicating that they expect Amazon to provide remedies to address these concerns.