August 10, 2022 | Consumer Discretionary | North America | Ended

iRobot / Amazon: Deal Insights

Amazon’s buying spree continues with an all-cash $1.7bn acquisition of iRobot, the company behind the Roomba vacuum. The deal, announced on 5-Aug-22, marks Amazon’s second major acquisition in the space of a few weeks, following its 21-Jul-22 definitive acquisition of primary care start-up 1Life Healthcare (ONEM US). Amazon will pay $61 per iRobot share, implying a premium of 22% to the previous day’s close, which is a small takeover premium given iRobot shares traded at more than twice the offer price in early 2021. Conditions to closing include iRobot shareholder approval (majority of shares; an Amazon vote is not required), HSR in the US and approvals from foreign antitrust and foreign investment regulators. Other customary provisions in the merger agreement include one that binds iRobot to ...

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