Whole Foods and Wild Oats cleared for merger
Whole Foods Market and Wild Oats have cleared the last expected legal hurdle confronting their merger, according to an Aug. 23 release. The U.S. Court of Appeals for the District of Columbia denied FTC's request to delay the completion of the transaction pending the outcome of its appeal and dissolved an Aug. 20 administrative injunction, which had prevented the deal from moving forward while the court considered FTC's motion. We look forward to closing this merger and believe the synergies gained from the combination will create long-term value for our customers, vendors and shareholders as well as exciting opportunities for new and existing team members, Whole Foods CEO John Mackey said. The Austin, Texas-based firm's tender offer to purchase outstanding shares of common stock of Wild Oats expires Monday Aug. 27, 2007 at 5:00 p.m. EST, according to the release.