Merger of Whole Foods Market, Wild Oats slowed by FTC request

By Lisa Kerner

Charlotte, N.C., March 14 - The Federal Trade Commission has requested additional information in connection with the Feb. 21 merger agreement between Wild Oats Markets, Inc. and Whole Foods Market, Inc., according to an 8-K filing with the Securities and Exchange Commission.

As a result of this second request, the waiting period imposed by the Hart-Scott-Rodino Act was extended until 10 days after Whole Foods Market substantially complies with the request.

Under the agreement, Whole Foods Market will acquire Wild Oats Markets in a cash tender offer of $18.50 per share, or approximately $565 million, including $106 million of existing net debt.

The transaction was previously expected to close in April and will be funded with the proceeds from $700 million of senior term loans, according to a company news release.

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

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

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