Whole Foods Market Adds New Section on Web Site for Posting Information Regarding FTC’s Attempt to Block Proposed Merger with Wild Oats Markets
Whole Foods Market, Inc. (NASDAQ: WFMI) today announced the addition of a new section on its website (www.wholefoodsmarket.com) dedicated to posting information and updates regarding the U.S. Federal Trade Commission’s (FTC) challenge of the proposed merger with Wild Oats Markets.
As previously announced, a hearing has been scheduled to begin on July 31, 2007 to decide whether the FTC’s application to block the proposed merger will be granted.
“Our approach at Whole Foods Market is to be as open and transparent as reasonably possible. This new section on our website, which includes a link to my blog, is an outlet for the Company to proactively share information. We hope it will help our stakeholders understand Whole Foods’ position as we move though the legal process,” said John Mackey, chairman and CEO of Whole Foods Market. “Whole Foods Market and Wild Oats Markets are in full cooperation and will forcefully challenge the FTC’s claim that the merger will eliminate competition in the natural-foods industry, therefore increasing prices and lowering quality.”
The first posting to the new section on the Company’s web site — found at www.wholefoodsmarket.com/ftchearingupdates — is a document that was presented to FTC commissioners prior to their decision to seek a preliminary injunction to block the merger. Entitled “The Proposed Acquisition of Wild Oats by Whole Foods Market Will Not Substantially Lessen Competition in Any Relevant Market,” the document outlines the Company’s position that the Whole Foods Market-Wild Oats Markets transaction poses no threat to competition.
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