Appeals Court Stays Whole Foods-Wild Oats Merger
On Monday, the United States Court of Appeals for the District of Columbia Circuit stayed the merger. According to Dow Jones (via Forbes):
The U.S. Court of Appeals for the D.C. Circuit temporarily put the deal on hold until it can hear more arguments although the three-judge panel said the decision “should not be construed in any way as a ruling on the merits” of the case. The Federal Trade Commission on Friday asked the court to stay a decision Thursday by U.S. District JudgePaul L. Friedman that allowed the transaction to proceed. The agency wants to block the deal on antitrust grounds. The panel ordered the FTC to explain by Wednesday afternoon why it appealed. Whole Foods will have until Thursday to respond. The accelerated schedule suggests the court plans to move quickly. Whole Foods is blocked “from taking any further steps to acquire the stocks, assets or any other interest” in Wild Oats until the judges issue a further ruling.
RSS Feed
August 22nd, 2007 at 12:20 pm
The whole foods customer, is not concerned with high prices: quite the contrary, they take pride in overpaying for their expensive, “lifestyle” choices………..
Whole foods has made a fortune, appealing to such snobbery….