FTC. v. Whole Foods Market, Inc. - Settlement Talks
There was no announcement today regarding whether or not the U.S. Federal Trade Commission (FTC) and Whole Foods Market, Inc. have reached a settlement in their talks over the FTC's antitrust challenge to the natural grocery chain's 2007 friendly acquisition of Wild Oats Markets, Inc.
And, according to our sources, no settlement deal has been reached as of yet.
There are only three days remaining until March 6, the date the FTC has set as the end of its halt in legal proceedings regarding FTC. v. Whole Foods Market, Inc.
The FTC has set April 6, 2009 as the date it will begin an administrative trial in which an FTC-appointed Administrative Law Judge will hear arguments from both sides regarding the antitrust aspects of the 2007 acquisition of Wild Oats by Whole Foods Market, Inc., assuming a settlement isn't reached before then. After hearing the arguments, the judge will offer an administrative ruling on the status of the merger.
Whole Foods Market wants to avoid the April 6 administrative trial, which is why the Austin, Texas-based natural grocer made a settlement offer to the FTC in February. The FTC did not accept that initial offer.
But in response to the offer, which we're told involved Whole Foods Market closing and selling some of the about 100 former Wild Oats stores it now operates, the FTC announced its halt of legal proceedings as a good will gesture so that the two sides could further negotiate a settlement deal.
The FTC halt ends on Friday, March 6. However, the U.S. federal regulatory agency responsible for antitrust issues and consumer protection could extend the March 6 date if it desires.
Natural~Specialty Foods Memo's (NSFM) Countdown to March 6, 2009:
>Read yesterday's (Monday, March 2, 2009) Daily Memo at the link: [Daily Memo - Whole Foods Market - FTC Settlement Deal Watch - Countdown to March 6.]
>Read our Friday, February 27 Daily Memo at the link: [Daily Memo: Whole Foods Market - FTC Settlement Deal Watch - Countdown to March 6.]
>Read our Thursday, February 26 Daily Memo at the link: [Daily Memo: Whole Foods Market - FTC Settlement Deal Watch - 9 Days to March 6.]
>Read our Wednesday, February 25 Daily Memo at the link: [Daily Memo: Whole Foods Market - FTC Settlement Deal Watch - 10 Days to March 6. [Note: There's a bibliography of recent posts on FTC. v. Whole Foods Market, Inc. from Natural~Specialty Foods Memo (NSFM) at the bottom of the linked column.]
[Reader Note: You can follow Natural~Specialty Foods Memo (NSFM) on Twitter.com at: www.twitter.com/nsfoodsmemo.]
There was no announcement today regarding whether or not the U.S. Federal Trade Commission (FTC) and Whole Foods Market, Inc. have reached a settlement in their talks over the FTC's antitrust challenge to the natural grocery chain's 2007 friendly acquisition of Wild Oats Markets, Inc.
And, according to our sources, no settlement deal has been reached as of yet.
There are only three days remaining until March 6, the date the FTC has set as the end of its halt in legal proceedings regarding FTC. v. Whole Foods Market, Inc.
The FTC has set April 6, 2009 as the date it will begin an administrative trial in which an FTC-appointed Administrative Law Judge will hear arguments from both sides regarding the antitrust aspects of the 2007 acquisition of Wild Oats by Whole Foods Market, Inc., assuming a settlement isn't reached before then. After hearing the arguments, the judge will offer an administrative ruling on the status of the merger.
Whole Foods Market wants to avoid the April 6 administrative trial, which is why the Austin, Texas-based natural grocer made a settlement offer to the FTC in February. The FTC did not accept that initial offer.
But in response to the offer, which we're told involved Whole Foods Market closing and selling some of the about 100 former Wild Oats stores it now operates, the FTC announced its halt of legal proceedings as a good will gesture so that the two sides could further negotiate a settlement deal.
The FTC halt ends on Friday, March 6. However, the U.S. federal regulatory agency responsible for antitrust issues and consumer protection could extend the March 6 date if it desires.
Natural~Specialty Foods Memo's (NSFM) Countdown to March 6, 2009:
>Read yesterday's (Monday, March 2, 2009) Daily Memo at the link: [Daily Memo - Whole Foods Market - FTC Settlement Deal Watch - Countdown to March 6.]
>Read our Friday, February 27 Daily Memo at the link: [Daily Memo: Whole Foods Market - FTC Settlement Deal Watch - Countdown to March 6.]
>Read our Thursday, February 26 Daily Memo at the link: [Daily Memo: Whole Foods Market - FTC Settlement Deal Watch - 9 Days to March 6.]
>Read our Wednesday, February 25 Daily Memo at the link: [Daily Memo: Whole Foods Market - FTC Settlement Deal Watch - 10 Days to March 6. [Note: There's a bibliography of recent posts on FTC. v. Whole Foods Market, Inc. from Natural~Specialty Foods Memo (NSFM) at the bottom of the linked column.]
[Reader Note: You can follow Natural~Specialty Foods Memo (NSFM) on Twitter.com at: www.twitter.com/nsfoodsmemo.]
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