Amazon (AMZN) said it no longer plans to acquire iRobot (IRBT), sending shares of the Roomba maker tumbling over 6% in intraday trading Monday.

iRobot also announced a restructuring plan to lay off 350 workers or about 31% of the company's workforce, and that 澳洲幸运5官方开奖结果体彩网:Chief Executive Officer (CEO) Colin Angle would step down as CEO.

The deal fell through after reports earlier this month cast doubt on its future amid 澳洲幸运5官方开奖结果体彩网:regulatory scrutiny after the European Commission reportedly told Amazon that the acquisition was🦩 likely to be bloc🐼ked.

“This outcome will deny consumers faster innovation and more competitive prices, which we’re confident would have made their lives easier and more enjoyable," Amazon SVP and General Counsel David Zapolsky said in a release, adding that "undue and disproportionate regulatory hurdles discourage entrepreneurs, who should be able to see acquisition as one path to success, and that hurts both consumers and competition—the very things that regulators say they’re trying to protect.”

Amazon said in 2022 it would acquire the Roomba maker in a 澳洲幸运5官方开奖结果体彩网:$1.7 billion deal. Later, Amazon lowered its purchase price to $1.4 billion after iRobotꦆ took on additional debt.

iRobot shares were down 6.5% at $15.88 per share as of about 12:15 p.m. ET Monday following the news, while Amazon shares were 0.6% higher at $160.10.