iRobot Stock Got Cheaper Today. Is It a Buy?
By now, you've probably heard the news: The European Commission (EC) wanted Amazon (NASDAQ: AMZN) to make unspecified concessions to allay its concerns that allowing the e-commerce giant to acquire (NASDAQ: IRBT) wouldn't hinder competition among manufacturers of robot vacuums. iRobot refused, making it unlikely the EC would approve Amazon taking iRobot in house. And today, Amazon made it official: It's walking away from the merger, and is in fact so uninterested in acquiring iRobot at this point that it will willingly pay a $94 million breakup fee to get out of the deal.
iRobot's stock plunged nearly 19% in early trading on the news Monday morning. As of 12:50 p.m. ET, the stock's starting to recover its losses -- but is still down 6.5%.
Let me repeat that: iRobot's about to get nearly a hundred million in free cash from Amazon, and its stock just got cheaper, too. Is now the time to buy iRobot?
Source Fool.com
