Following Roomba Acquisition, Amazon Eyes London's Ocado for Next Major Tech Investment
Amazon.Com, Inc (NASDAQ: AMZN) and some other major technology companies put forward an offer of 800p per share to buy Ocado Group PLC (OTC: OCDDY) (OTC: OCDGF).
Ocado is responsible for the production of mechanical devices and computer programs that facilitate the transport of food purchases via the Internet.
Jefferies analyst Giles Thorne was quoted by Bloomberg as saying that more information is needed before a thorough investigation into the strategic reasoning and probability of a formal takeover proposal can be conducted.
Jefferies has been advising to maintain the current position on Ocado since at least December of 2021.
According to S&P Global Market Intelligence, the amount of shares borrowed by others, which is a sign of short selling, accounts for around 15% of Ocado's available shares as of Tuesday.
The Competition and Markets Authority (CMA) gave the green light to Amazon's acquisition of IRobot Corp (NASDAQ: IRBT), which is known for its Roomba product, last week.
iRobot is a company that creates and manufactures robots for everyday people. One of their popular products is a robot vacuum cleaner called 'Roomba'. After a careful review, the CMA has determined that the acquisition would not negatively affect rival companies in the United Kingdom.
Price Movement: As of Thursday's latest check, AMZN stocks showed an increase of 0.34% and premarket trading saw them at $125.25.
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The recent purchase of Roomba has led Amazon to consider investing in the London-based company Ocado. This potential investment could be a significant move for Amazon's continued expansion in the technology industry. This news was first reported on the website Benzinga.com.
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