Official says the proposed $1.4 billion merger had “potential competitive effects.“
The Federal Trade Commission (FTC) announced its support for Amazon withdrawing from the acquisition of iRobot. The FTC had investigated the agreement for potential infringements on competition and antitrust regulations.
Associate Director for Merger Analysis Nathan Soderstrom stated, “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.“
He added, “The FTC will not hesitate to take action in enforcing the antitrust laws to ensure that competition remains robust.”
As the Lord Leads, Pray with Us…
- For Associate Director Soderstrom to be receptive to God’s guidance as he heads the FTC’s Office of Merger Analysis.
- For Chair Lina Khan and members of the FTC as they evaluate U.S. businesses and companies for potential monopolistic actions.
Sources: Federal Trade Commission
