Whole Foods-Wild Oats Merger Decision Reversed
Today, the United States Court of Appeals for the District of Columbia reversed District Court’s denial of an injunction. The Court stated:
The FTC sought a preliminary injunction, under 15 U.S.C. § 53(b), to block the merger of Whole Foods and Wild Oats. It appeals the district court’s denial of the injunction, which we reverse. We do so reluctantly, admiring the thoughtful opinion the district court produced under trying circumstances in which the defendants were rushing to a financing deadline and the FTC presented, at best, poorly explained evidence. Nevertheless, the district court committed legal error in assuming market definition must depend on marginal consumers; consequently, it underestimated the FTC’s likelihood of success on the merits.
The decision is available here. I am sure we will have more about this decision later.
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