The Federal Trade Commission.
The Federal Trade Commission (FTC) has unexpectedly revisited the
acquisition of Wild Oats Markets by the larger natural foods retailer
Whole Foods Market. The FTC, which failed this summer to block the
acquisition on anti-trust grounds, is now trying to disrupt the merger
by asking a Washington court to overturn the Federal District Court
ruling in August that finally sanctioned the deal. An appeal at this
stage is a highly unusual step and is considered by experts to be
unlikely to be successful. "It will be very difficult for the FTC
to get this decision reversed," Paul Yde, an antitrust partner at
law firm Freshfields Bruckhaus Deringer and a former FTC official, was
quoted as saying. Yde added that the District Court Judge's
original opinion "was very strong". Earlier this month, Whole
Foods filed a motion with the appellate court to dismiss the case as
moot because the merger had now been completed, but last week the FTC
said an appeal was warranted. The FTC is seeking to prevent the
companies from continuing to combine certain operations until a full
review of the deal has been completed.
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