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Whole Foods/Wild Oats

This article was originally published in The Tan Sheet

Executive Summary

U.S. District Court for the District of Columbia Judge Paul Friedman denies FTC's lawsuit requesting a preliminary injunction against the proposed $670 mil. merger of Whole Foods Market and Wild Oats Markets. The federal agency may appeal the Aug. 16 ruling and may seek a stay from either the District Court or the U.S. Court of Appeals for the D.C. Circuit to preclude the closing of the merger. Absent a stay pending an appeal, the firms may close the transaction any time after noon on Aug. 20. Under terms of the deal, Whole Foods will acquire all outstanding shares of Wild Oats for $18.50 per share in cash. The firms say the merger will benefit stakeholders, customers and shareholders. FTC filed its suit against the two major natural/organic food industry competitors June 7, fearing the merger would violate federal antitrust laws (1"The Tan Sheet" June 11, 2007, In Brief)...
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