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F.T.C. Tries Again To Stop Whole Foods DealWASHINGTON, Oct. 24 (Bloomberg News) — Whole Foods Market, the natural foods grocer, is facing a renewed antitrust challenge from the Federal Trade Commission over its $565 million acquisition of a smaller rival, Wild Oats Markets. This week, the F.T.C. appealed a district judge’s Aug. 16 ruling that it failed to show that the acquisition would hurt consumers. In a filing Monday with a federal appeals court in Washington, the F.T.C. opposed a motion by Whole Foods to dismiss the appeal as moot, saying the takeover could still be undone. Whole Foods completed its purchase of Wild Oats less than two weeks after the ruling from Judge Paul L. Friedman of Federal District Court in Washington. The F.T.C. said the integration of the stores, which it opposed on competitive grounds, was not complete and there was still time to stop it. “It is clearly possible to fashion such an order here, both to protect consumers from any interim harm the acquisition may cause them and to preserve the possibility of reconstituting Wild Oats as an independent competitor,” the F.T.C. said in its filing. Mitch Katz, a spokesman for the agency, and a Whole Foods spokeswoman, Amy Schaefer, both declined to comment. Whole Foods, based in Austin, Tex., agreed to buy Wild Oats for $18.50 a share. The F.T.C. sued to block the transaction in June, claiming consumers would be harmed by higher prices and decreased competition. The company, which has 197 stores in the United States, Canada and Britain, added 110 locations by buying Wild Oats. Shares of Whole Foods fell 35 cents, to $47.70, on Nasdaq. Tag CloudExternal InformationAdditional InformationWorld Business Briefing: Germany: Unemployment Rate Declined in June...Strike Over Local Issues Idles a Key G.M. Plant... Lara Croft Tomb Raider maker SCi to raise £60 million... MWB appoints Bank of America to advise on hotel assets sale... Where Am I?News Main Page - Business - F.T.C. Tries Again To Stop Whole Foods Deal |
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