Whole Foods Market extends tender offer for Wild Oats Markets again

By Lisa Kerner

Charlotte, N.C., Aug. 16 - Whole Foods Market, Inc. extended its $18.50-per-share tender offer for Wild Oats Markets, Inc. to 5 p.m. ET on Aug. 20. The offer was slated to close on Aug. 15. Previously, Whole Foods extended the tender deadline from Aug. 10.

A total of 20,769,895 shares, or about 69.4% of the shares outstanding, were tendered as of the close of business on Aug. 15, according to a company news release.

The companies entered into a merger agreement on Feb. 21. The Federal Trade Commission filed suit in June to block the proposed acquisition on antitrust grounds.

Whole Foods and Wild Oats consented to a temporary restraining order. A hearing for the matter ended Aug. 1. On Aug. 16, the U.S. District Court for the District of Columbia denied the FTC's request for an injunction. The FTC may choose to appeal.

The decision clears the way for Wild Oats and Whole Foods to close their merger any time after noon ET on Aug. 20, absent a stay pending appeal.

As previously reported, Whole Foods and the Securities and Exchange Commission are conducting separate investigations into Whole Foods co-founder, chairman and chief executive officer John Mackey's participation in online financial message boards.

Wild Oats is a chain of natural and organic food markets based in Boulder, Colo.

Whole Foods is an Austin, Texas-based natural and organic foods retailer.

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