11.01.08
FTC will hold hearings on Whole Foods Market Inc.’s (Austin, TX) acquisition of former rival Wild Oats (Boulder, CO) beginning in February next year. The $565 million purchase was finalized in August. FTC originally objected to the deal on antitrust grounds, but a federal judge refused to issue an injunction to halt the merger. In July, however, a federal appeals court ruled the judge erred in his decision and the case was reopened. FTC’s February hearing will last no more than 30 days, according to the agency. FTC has named commissioner Thomas Rosch, who voted in 2007 to investigate the legality of the deal, to oversee the case. The agency denied Whole Foods’ request that an administrative law judge take his place.
