Thursday, August 24, 2017

The FTC approves Amazon - Whole Foods deal

The Federal Trade Commission (FTC) announced yesterday that it has approved Amazon's proposed acquisition of Whole Foods. The announcement comes one day after Whole Foods shareholders voted to approve the $13.7 billion deal.

Amazon plans to close the deal later this year.

The FTC investigated the proposed merger to determine whether it would substantially lesson competition under Section 7 of the Clayton Act, or whether it would constitute an unfair method of competition under Section 5 of the FTC Act. According to the FTC's Bureau of Competition, the agency has decided not to pursue the matter further.

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