It's been a roller-coaster ride for (NASDAQ: IRBT) shareholders since the company agreed to be acquired by Amazon.com (NASDAQ: AMZN) nearly 15 months ago.

Shares of the home robotics company, best known for its Roomba line of robotic vacuums, soared nearly 40% last Friday after Reuters reported that Amazon was finally poised to receive unconditional European Union antitrust approval to complete the acquisition. On Monday, however, iRobot stock pulled back nearly 20% after the European Commission (EC) issued a "statement of objections" to Amazon, detailing its view that acquiring iRobot may restrict competition in the market for robotic vacuum cleaners (RVCs).

For perspective, this is only the latest in a long-running saga surrounding the deal. The EC opened an in-depth probe into the acquisition back in July 2023 and is expected to issue a final ruling by Feb. 14, 2023.

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Source Fool.com