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Amazon clears FTC hurdle, merger with Whole Foods expected soon

The marriage between the online retailer and the pioneer organic grocery seller has sent shockwaves

Reuters  |  WASHINGTON/SAN FRANCISCO Inc on Wednesday cleared two of the biggest hurdles it needed to close its $13.7 billion acquisition of Whole Foods Market Inc , with approvals from a U.S. regulator and the grocery chain's shareholders. The U.S. Federal Trade Commission said in a statement it would not pursue its investigation into the proposed merger further after reviewing whether the deal would substantially lessen competition or constituted an unfair method of competition. Amazon said it was on track to close the merger, expected sometime this year. Earlier on Wednesday, Whole Foods said its ...

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First Published: Thu, August 24 2017. 08:02 IST