FTC To Challenge Whole Foods, Wild Oats Merger

Law360, New York (June 5, 2007, 12:00 AM EDT) -- Whole Foods Market Inc. disclosed Tuesday that federal regulators will seek to block its proposed $700 million acquisition of rival grocery store chain Wild Oats Markets Inc.

According to Whole Foods, the Federal Trade Commission will soon file a complaint in the U.S. District Court for the District of Columbia asking for a temporary restraining order. If approved by the court, the restraining order would prohibit the companies from completing the merger until the FTC's request for a preliminary injunction was resolved.

“We are very disappointed...
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