Whole Foods extends tender offer for Wild Oats

By Lisa Kerner

Charlotte, N.C., July 20 - Whole Foods Market, Inc. extended the expiration date for its $18.50-per-share cash tender offer for Wild Oats Markets, Inc. to 5 p.m. ET on Aug. 10. The offer was slated to end on July 20.

As of July 19, 17,049,990 shares, or about 57.1%, of Wild Oats' common stock had been tendered, according to a company news release.

Whole Foods and Wild Oats announced their merger agreement on Feb. 21.

A hearing on a preliminary injunction filed by the Federal Trade Commission to block the merger is scheduled to begin July 31.

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.

Mackey apologized for the activity, and Whole Foods is cooperating with the SEC.

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

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