Updates shares in paragraph 2, Adds comments in paragraph 6,7Jan 18 (Reuters) - The European Union's competition watchdog plans to block Amazon.com's AMZN.O $1.4 billion acquisition of robot vacuum maker iRobot IRBT.O, The Wall Street Journal said on Thursday, citing people familiar with the matter. Shares of the Roomba vacuum maker plunged nearly 40% to $14.3 in trading after the bell. WSJ reported that Amazon was informed during its meeting with European Commission's officials on Thursday that the deal was likely to be rejected. "Blocking this deal may well leave consumers with fewer options, and regulators cannot sweep that fact under the rug," Schruers added. The European Commission, which serves as the EU's competition watchdog, had until Feb. 14 to either approve or reject the deal.

Source: Wall Street Journal January 19, 2024 00:24 UTC