Court to decide if FTC can block Whole Foods, Wild Oats merger

By Lisa Kerner

Charlotte, N.C., June 12 - The U.S. District Court for the District of Columbia scheduled a preliminary hearing to run from July 31 through Aug. 1 in order to rule on an injunction filed by the U.S. Federal Trade Commission to block the proposed merger of Whole Foods Market, Inc. and Wild Oats Markets, Inc.

The companies have consented to a temporary restraining order pending the hearing, a news release stated.

On Feb. 21, Whole Foods began a tender offer to purchase all the outstanding shares of Wild Oats for $18.50 per share in cash.

As a result of the hearing, Whole Foods expects to extend its tender offer beyond the original expiration date of June 20.

Whole Foods Market is an Austin, Texas-based natural and organic foods retailer. Wild Oats Markets is a chain of natural and organic food markets based in Boulder, Colo.

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