iRobot Corporation IRBT shares are trading higher Friday following a report suggesting Amazon's AMZN proposed acquisition of the company is set to get unconditional approval from EU antitrust authorities.
What To Know:
According to a Reuters report, the European Commission is likely to grant unrestricted approval to Amazon’s $1.4 billion purchase of iRobot, maker of the Roomba robot vacuum. The report cited three people familiar with the matter.
The UK antitrust agency has previously cleared the deal unconditionally after a preliminary review.
Shares of IRBT are moving on heavy trading volume following the report. According to data from Benzinga Pro, more than 4.5 million shares have been traded in the session, compared to the stock's 100-day average volume of less than 260 thousand shares.
iRobot has grabbed the interest of short-sellers with 15.07% of available IRBT shares being sold short.
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IRBT Price Action: According to Benzinga Pro, iRobot shares are up by 36% at $40.64 at the time of publication.
Image: Peter Pieras from Pixabay
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