GO
Loading...

FTC Suing to Block Whole Foods Buyout of Wild Oats Markets

Wild Oats Markets said that the U.S. Federal Trade Commission will file a lawsuit to block its acquisition by Whole Foods Market and that the companies will challenge the opposition.

On May 22, Whole Foods , the largest natural and organic grocer, extended its tender offer for Wild Oats for a third time, even though enough shares have been tendered, as it waited to hear whether U.S. regulators would challenge the deal.

In February, Whole Foods said it planned to buy smaller rival Wild Oats for $18.50 a share, or about $565 million, to compete better with other grocers selling organic and natural fare.

Contact U.S. News

  • CNBC NEWSLETTERS

    Get the best of CNBC in your inbox

    Please choose a subscription

    Please enter a valid email address
    To learn more about how we use your information,
    please read our Privacy Policy.

Don't Miss

U.S. Video

  • Ford misses on top and bottom line

    CNBC's Phil LeBeau breaks down Ford's quarterly result and takes a look at where the automaker made and lost money.

  • Tightening ties with Japan

    Tai Hui, J.P. Morgan Funds, provides insight to President Obama's meeting with Japan Prime Minister Shinzo Abe, where the political leaders are expected to talk about trade, economic and military ties.

  • Best nat gas plays: Pro

    Scott Hanold, RBC Capital Markets, provides his outlook on natural gas and reveals his top nat gas plays.