Big Tech, pharma in crosshairs of European regulators

AXIOS January 29, 2024
Hope King

Regulators on the other side of the Atlantic are cracking down on U.S. businesses.

The big picture: Amazon and iRobot’s pulled deal Monday is just the latest example of Europe’s tough stance on competition reviews.

Driving the news: Amazon and the Roomba maker pulled the plug on their $1.4 billion merger, saying they saw “no path” for clearance in the EU.

As part of the deal termination, Amazon will pay $94 million to iRobot, whose shares closed down 8.8%.

Meanwhile, in December, the breakup of Adobe’s massive Figma deal came on the heels of a U.K. regulator’s warning.

And come March, Big Tech giants face a deadline to comply with the EU’s Digital Markets Act. It aims...

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2024-01-30T10:37:48-05:00