By Sabela Ojea
iRobot said its shareholders have approved selling the company to Amazon.com at a lower price.
The maker of Roomba robot vacuums on Thursday said the majority of its shareholders voted in favor of the merger proposal, while nearly 25% of them voted against the compensation agreement.
On July 25, iRobot and the ecommerce giant agreed to an acquisition price of $51.75 per share, down from $61 per share previously.
iRobot then said it had entered into a $200 million credit facility to fund ongoing operations.
The deal has garnered regulatory scrutiny since it was announced in August 2022. European Union regulators said they would conduct an in-depth probe of the acquisition.
Meanwhile, iRobot’s lagging sales have raised questions about the deal. The company reported below-consensus quarterly results in May, and the stock has fallen 2.6% this year.
Write to Sabela Ojea at [email protected]; @sabelaojeaguix
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