Regulators Seek to Undo Whole Foods Deal
Washington, D.C., Federal regulators are continuing legal efforts to block Whole Foods Market Inc.'s $565 million takeover of rival Wild Oats despite the deal closing in late August, according to the Associated Press.
The Federal Trade Commission tried to block the deal earlier this year on antitrust grounds. A federal district court ruled against the agency in August. The FTC appealed that ruling, but the U.S. Court of Appeals for the District of Columbia Circuit refused to halt the transaction involving the nation's two largest natural- and organic-food grocers.
The FTC said Monday that there is still time to remedy the acquisition's anticompetitive effects because Whole Foods continues to operate many Wild Oats' stores separately, under the Wild Oats name.
After the deal closed, Whole Foods filed a request with the court on Oct. 9 to dismiss the FTC's appeal. But in a Monday filing, the FTC said the appeal is still relevant and asked the court to set an expedited schedule for the case.