Whole Foods and Wild Oats cleared to proceed with merger
Whole Foods and Wild Oats cleared to proceed with merger
Whole Foods Market Inc. and Wild Oats Markets Inc. announced Aug. 23 that they are now legally cleared to proceed with their merger as the U.S. Court of Appeals for the District of Columbia has denied the Federal Trade Commission's request for a stay to preclude the closing of the merger pending the FTC's appeal and has dissolved the Aug. 20 administrative injunction, which had prevented the transaction from going forward while the court considered the FTC's motion.
"We are pleased to have cleared what we expect to be our last legal hurdle," John Mackey, chairman, chief executive officer and co-founder of Austin, TX- based Whole Foods Market said in a statement. "We look forward to closing this merger and believe the synergies gained from this combination will create long-term value for our customers, vendors and shareholders as well as exciting opportunities for our new and existing team members."
"We are pleased to have cleared what we expect to be our last legal hurdle," John Mackey, chairman, chief executive officer and co-founder of Austin, TX- based Whole Foods Market said in a statement. "We look forward to closing this merger and believe the synergies gained from this combination will create long-term value for our customers, vendors and shareholders as well as exciting opportunities for our new and existing team members."
