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In a surprising turn of events, Amazon and iRobot have decided to call off their anticipated deal due to challenges in securing regulatory approval in the European Union. The announcement came on Monday, leaving both companies to face the consequences of a terminated agreement.
Matt Mattenson has more.
The termination of the deal triggers a significant financial repercussion for Amazon, which is required to pay iRobot a hefty termination fee amounting to 94 million dollars. The termination fee clause, a common provision in such agreements, serves as compensation for the time and resources invested by iRobot in the. . .
