Peloton Interactive Inc. — the early pandemic home-fitness darling that’s become a potential takeover target following a sharp plunge in its stock price — could find a challenging climate if it opts for a deal with a big-technology firm.

One key consideration is regulatory scrutiny. There’s a chill against large transactions at the moment in Washington, where technology companies are being probed by regulators for their reach and influence and the Federal Trade Commission recently sued to block an acquisition by Nvidia Corp.

"The deal better be worth the headache for the company because they’re going to be scrutinized on whatever they buy,” said Anurag Rana, a senior analyst at Bloomberg Intelligence, in an interview Sunday.